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“With wireless adoption of IP and 4G LTE and demand for next gen mobile services ramping quickly, we see a compelling opportunity to capitalize on a major market transition to add a high-growth mobile business to Mitel,” Mitel Chief Executive Rich McBee said.

Ottawa-based Mitel expects acquisition to expand its business by $14 billion by 2018
The Wall Street Journal
Byline: Angela Chen

Mitel Networks Corp. has agreed to buy telecommunications provider Mavenir Systems for approximately $560 million in cash and stock, in a bid to capitalize on the growing demand for 4G LTE services.

Mavenir shareholders will be offered either all-cash or all-stock exchange. They can receive either $11.08 a share in cash for each Mavenir share plus 0.675 of a Mitel share, or $17.94 in cash, which represents a 77% premium on the closing price of Mitel stock on Feb. 27.

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