Number 1 in market share in Western Europe and ranked in the top 5 globally*, Mitel is well-positioned to capitalize on a significant global growth opportunity as the market begins a long-term migration to cloud-based services.
“With this merger, Mitel’s combined annual revenue exceeds $1 billion, which we believe creates the financial scale and operational momentum to deliver value and profitable growth to shareholders in a consolidating market with abundant opportunities,” says Richard McBee, President and CEO of Mitel. “We now have twice the talent, tools, and solutions to aggressively compete for a larger share of our market.”
 
Customer Options with the Best Path to the Cloud:
Mitel offers the most comprehensive portfolio in the industry, covering all possibilities at both the market and individual customer levels. From the digital environment to the IP world and from there to the cloud; from platforms to applications and devices, for small businesses and large enterprises alike, Mitel’s portfolio of solutions now gives customers the ultimate decision-making power to maintain, migrate, or upgrade their communications systems at their own pace.

Financial data and attractive synergies.
Along with the closing of the merger, Mitel today completed the financing of a US$405 million credit facility consisting of a US$355 million term loan maturing in January 2020 and a US$50 million revolving credit facility maturing in January 2019. The US$355 million term loan is rated at LIBOR plus 4.25% with a LIBOR floor of 1.00%. The US$50 million revolving credit facility is rated at LIBOR plus 4.25%.

Terms of the Agreement:
Mitel has acquired all of the issued and outstanding common shares of Aastra. Under the terms of the agreement, Aastra shareholders received US$6.52 in cash plus 3.6 shares of Mitel common shares (the "Mitel Shares") for each share of Aastra common shares. The total amount paid by Mitel was approximately US$80 million, and the number of Mitel shares issued was 44,162,509. Mitel financed the cash consideration for the transaction with cash on hand and through a portion of the proceeds from the new credit facility, as previously mentioned.