Mitel (Nasdaq:MITL) (TSX:MNW) a global leader in real-time business, cloud and mobile communications, today issued the following statement in response to Polycom's 8K filing. "The transaction that was announced on April 15, which received the unanimous support of both Boards of Directors and commitments from large shareholders of both companies, offers superior and greater upside to both Polycom and Mitel. Polycom shareholders specifically will own 60% of a $2.4B, highly profitable, low leverage, strong cash flow company with the scale and portfolio breadth to compete.
Mitel (Nasdaq:MITL) (TSX:MNW) a global leader in real-time business, cloud and mobile communications, today announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) for its proposed acquisition of Polycom, announced on April 15, 2016. Termination of the HSR Act waiting period satisfies one of the conditions to the closing of the pending transaction. The transaction, which is expected to close in Q3 2016, remains subject to other customary closing conditions, including receipt of shareholder and other regulatory approvals.
Record Quarterly Cloud Revenues Grow 32%Mobile Division Revenues Increase 55%Non-GAAP revenues of $276.8 million, up 3% year-over-year in constant currencyAdjusted EBITDA1 of $25.6 million, up 62% year-over-year in constant currency$40 million in voluntary debt prepayments made during the quarterMitel® (Nasdaq:MITL) (TSX:MNW), a global leader in real-time business, cloud and mobile communications, today announced financial results for the first quarter ended March 31, 2016.
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