Mitel is set to acquire Mavenir Systems, a provider of software-based networking solutions for telecoms, for $560 million.
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With the acquisition of Mavenir, Mitel expects to expand its addressable market by $14 billion by 2018. It aims to capitalize on increasing demand for 4G LTE services, which is growing at approximately 52 percent annually (CAGR).
“We believe the combination of Mitel and Mavenir creates a powerful new value proposition for enterprises and mobile service providers, using a common IP technology layer as the foundation for convergence, growth and competitive differentiation,” said Rich McBee, president and CEO of Mitel.
Mavenir will be the mobile business division of Mitel, operating under the brand Mavenir. Pardeep Kohli will join Mitel in the role of president, Mavenir, reporting to Rich McBee.
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