Mavenir Acquired By Mitel In $560M Deal

Richardson, Texas-based Mavenir Systems, the developer of products for the unified communications market, is being acquired by Mitel, Mitel said today. Mitel said it will pay $560M in cash and stock for Mavenir. The deal is worth $17.94 per share of Mavenir. Mitel said it will pay $11.08 plus 0.675 of a Mitel common share for each share of Mavenir common stock. Mitel said the buy would significant expand its addressable market.