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TAGGED AS XURA INC.

Mitel selling mobile division

telecom | 12/19/2016 6:32 pm EST

Mitel Networks Corp. said Monday it is getting out of the mobile business, selling its mobile division for $350 million. In a press release, the Ottawa-based telecommunications company said it was off-loading its mobile division to Xura Inc.’s parent company, a holding firm called Sierra Private Investments L.P. Mitel purchased mobile software provider Mavenir in 2015. According to the release, Xura “offers a portfolio of digital services solutions that enable global communications across a variety of mobile devices and platforms.” “Today’s announcement reflects a strategic decision made during Mitel’s recent annual business review to refocus the company exclusively on the Unified Communications and Collaboration (UCC) market as digital transformation accelerates demand for...