Mitel receives Canadian government approval for merger With
OTTAWA--Mitel Networks Corporation, a leading provider of cloud and premises-based unified communications software solutions, and Aastra Technologies Limited, a leader in enterprise communications, are pleased to announce that, in accordance with the Investment Canada Act, the Minister of Industry has approved the proposed merger of the companies which was announced on November 11, 2013. The Minister's approval is a key requirement for the transaction and represents a significant milestone toward finalizing the merger.
"We are delighted with the positive response from the Canadian government to our proposed merger with Aastra," said Richard McBee, President and Chief Executive Officer of Mitel. "Both Mitel and Aastra have deep and lasting Canadian roots, and we look forward to continuing to leverage our rich Canadian heritage and talent base as we look to build a new and more global and competitive future for both organizations."
The combined company will be headquartered in Ottawa, Canada. The transaction is anticipated to close in the first quarter of 2014 subject to the approval of Aastra shareholders at the Aastra shareholder meeting scheduled for January 9, 2014 and other regulatory approvals and conditions specified in the Arrangement Agreement between Aastra and Mitel dated November 10, 2013.
Mitel(R) (NasdaqMITL) (TSX:MNW) is a global provider of unified communications and collaboration (UCC) software, solutions and services that enable organizations to conduct business anywhere, over any medium with the device of their choice. Through a single cloud-ready software stream, Mitel's Freedom architecture provides customers in over 100 countries the flexibility and simplicity needed to support today's dynamic work environment.
Aastra Technologies Limited (TSX:AAH) is a global company at the forefront of the Enterprise Communication market. Headquartered in Concord, Ontario, Canada, Aastra develops and delivers innovative and integrated solutions that address the communication needs of businesses small and large around the world. Aastra enables Enterprises to communicate and collaborate more efficiently and effectively by offering customers a full range of open standard IP-based and traditional communications solutions, including terminals, systems, and applications.