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Mitel to buy mobile software provider Mavenir

Media | 03/02/2015 2:50 pm EST

Ottawa-based networking technology company Mitel Networks Corp. said Monday it has reached a deal to purchase Texas-based Mavenir Systems Inc., a provider of software for mobile operators. Mitel and Mavenir said in a joint press release the deal is worth $560 million US in cash and stock, and is expected to close during the second quarter, pending regulatory approval and a favourable vote from Mavenir shareholders. Mavenir has 130 customers including 15 of the top 20 global providers of mobile services, the companies said. Mavenir's technology was described as allowing carriers to...