Mitel® (Nasdaq:MITL) (TSX:MNW), a global leader in business communications, and Mavenir Systems (NYSE:MVNR), a leading provider of software-based networking solutions for mobile carriers, today announced that that they have entered into a definitive merger agreement in which Mitel will acquire all of the outstanding shares of Mavenir common stock in a cash and stock deal valued at approximately $560 million.
Mitel seems to be on the Merger and Aquisition roll with it’s purchase of Aastra and now Mavenir. Mitel had made an offer for the $140M USD UC provider ShoreTel earlier this year. Unfortunately for ShoreTel shareholders the bump in the stock on that announcement was followed by a drop in ShoreTel’s share price following that public rejection of the Mitel buyout offer. Read more about the Mavenir deal here.