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General

Mitel sells mobile ops to Xura for USD 350 mln

Monday 19 December 2016 | 13:54 CET | News
Mitel said it has agreed to sell its mobile operations to the parent company of Xura for USD 350 million in cash, a USD 35 million non-interest bearing promissory note and a stake in Sierra Private Investments, the limited partnership that will own both Xura and the mobile division. The cash portion of the purchase price is subject to adjustments according to closing working capital and indebtedness. The sale comes on the back of Mitel's refocus on the UCC market. After the close, Xura will appoint Pardeep Kohli, the former CEO of Mavenir Systems (which became Mitel Mobile) and co-founder of

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Categories: General
Companies: AT&T / Mavenir Systems / Mitel / UCC / Xura
Countries: World
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