After Bloomberg reported last week that Mitel Networks Corp. was preparing to file for Chapter 11, today the telecommunications company announced has done so, entering into an agreement with its senior lenders to optimize its capital structure and recapitalize its debt. In 2018, Searchlight Capital Partners took Mitel private and has been the majority shareholder since then.
Communications provider Mitel Networks Corp. today is rolling out a new artificial intelligence-powered customer experience platform to help businesses optimize customer interactions by integrating with existing communication tools.
The cloud industry is currently undergoing a significant sea change. The term “cloud” has been used to describe public cloud services. Over the past few years, buyers’ attitudes toward cloud services have noticed a notable change, with private and hybrid deployments rising. This trend isn’t limited to communications; it has been seen more broadly.
When Tarun Loomba became chief executive of Mitel Networks Inc. in 2021, the company made an interesting pivot. While the entire communications industry has been shifting to a software-as-a-service-based model, leveraging the public cloud, Mitel took a step back, looked at its strengths and the market, and decided to dedicate itself to serving customers via private or hybrid clouds.
Unified communications provider Mitel Networks Inc. today announced it has closed on the transaction with Atos SE to purchase Unify, formerly Siemens Enterprise.
In January of this year, Mitel announced it had entered exclusive negotiations to acquire Unify, expecting to close in the year’s second half. All the regulatory issues have been cleared, and the two companies are set to come together.