Friday, April 15, 2016

Polycom Acquired By Mitel For $1.96 Billion

San Jose-based Polycom and Ottawa, Canada-based Mitel said Friday that the two companies are in a definitive agreement, where Mitel will pay $1.96 billion in cash and stock for Polycom. Mitel said it will pay $3.12 in cash and 1.31 Mitel common shares for each share of Polycom common stock, equivalent to approximately $13.68. The newly merged company will be headquartered in Ottawa. Mitel said the merger creates a combined company with approximately 7,700 employees.