Mitel Applauds Inter-Tel Stockholders' Vote to Merge
Changes industry landscape
"We are delighted Inter-Tel shareholders have voted to approve the merger with Mitel. By bringing together the unique strengths of each company, this transaction will accelerate our growth strategy,” said Don Smith, CEO of Mitel. "Together, we believe that Mitel and Inter-Tel will possess the intellectual property, technology depth, breadth of portfolio, managed services, partnerships, and people to be a leader in the rapidly changing IP telephony landscape.”
Subject to the outcome of the preliminary injunction hearing arising from Inter-Tel’s litigation before the Delaware Court of Chancery, Mitel and Inter-Tel expect that the merger will close as promptly as practicable after the hearing which is scheduled for August 8, 2007.
Mitel, a leading provider of unifying IP communications solutions and applications for business customers, is headquartered in Ottawa, Canada, with offices, partners and resellers worldwide. For more information, please visit www.mitel.com.
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Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Company. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for the Company's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.
For more information contact:
Paul Goyette (Director, Public and Investor Relations), (613) 592-2122 ext. 2188, Paul_Goyette@mitel.com
April 26, 2007 - Mitel Announces US$723 Million Agreement to Acquire Inter-Tel