Mitel Wraps Up Sale of Mobile Business

Mitel, a global leader in real-time business communications, confirmed to MMW today the completion of the sale of its Mobile Division (first announced and reported by MMW on December 19, 2016) to the parent company of Xura, Inc.

We’re told that cash proceeds from the sale will be used to pay down Mitel’s existing credit facility.

The sale reflects Mitel’s strategy to “focus the company on the Unified Communications and Collaboration (UCC) market as digital transformation accelerates demand for cloud-based business communications solutions globally.”

Mitel will host a meeting for analysts and institutional investors at the LeParker Meridien Hotel in New York City on Tuesday, March 7, 2017.

Senior members of Mitel’s management team will host a series of presentations and be available to answer analyst and investor questions.