Mitel To Buy Polycom for $1.96 billion

Mitel agreed to acquire Polycom in a $1.96 billion deal, they said in a news release Friday. The cash-and-stock acquisition is expected to close in Q3, subject to shareholder and regulatory approvals from the DOJ, FTC, Russia and Germany. The combined company will be located at Mitel’s headquarters in Ottawa, Canada, operating as Mitel under CEO Richard McBee but keeping the Polycom brand. The combined company will have a global workforce of about 7,700.