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Mitel and Aastra Announce Plan to Merge
12 Nov, 2013
Combination creates a billion dollar company with a global installed base and the technology and scale to migrate those customers, and the broader market, to cloud based solutions.
- US$1.1 billion total revenue
- US$100 million cloud business
- Global customer base of 60 million end users
- #1 market share in Western Europe
- Competitive solutions portfolio to address businesses of any size
- Attractive synergies expected within first 24 months
- Accelerated path to further de-leverage the business
- Maximizing near-term installed base upgrade opportunities in large Western European countries including Germany, France and the U.K., and in primary Latin American markets such as Brazil and Mexico and a strong foothold in the Asia Pacific region including Australia.
- Immediate and aggressive expansion in the large enterprise cloud segment in the United States.
- Accelerating global cloud expansion by leveraging the strength of our respective cloud technologies and channel partners.
- US$1.1 billion in diversified annual sales, well positioned to deliver sustained and profitable revenue growth.
- Research and Development budget of approximately US$100 million.
- Approximately US$45 million of run rate synergies within two years, driven by supply chain optimization, facilities consolidation and economies of scale.
- Meaningful reduction in the debt leverage ratio of Mitel.
- Strong free cash flow generation.