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Mitel completes merger with Aastra

Business comms specialist claims it now has $1.1bn in combined annual revenue

Mergers and acquisitions, IT Business, Mitel Networks Limited

Mitel Networks Corporation today announced it has completed its merger with Aastra Technologies Limited.

"With $1.1bn of combined annual revenue and 60m customers worldwide, Mitel now has one of the largest global footprints in the industry and is driving consolidation in the $18bn business communications market," the company said in a statement.

Mitel claims it is number-one in market share in Western Europe and has a top-five position globally. The company hopes to capitalise on a massive global growth opportunity as the market begins its long-term migration to cloud-based services.

"With this merger the combined annual revenue of Mitel exceeds $1bn, which we believe creates the financial scale and operational leverage to drive shareholder value and profitable growth in an opportunity-rich consolidating market," said Richard McBee, president and chief executive officer of Mitel. "We now have double the talent, tools and range of solutions to aggressively compete for a greater share of our market."