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Mitel Networks Completes Acquisition of Mavenir Systems
- Client News
- April 29, 2015
Paul, Weiss client Mitel Networks Corporation announced that it had completed its acquisition of Mavenir Systems, Inc. in a cash and stock deal with an aggregate value of approximately $560 million. Under the terms of the agreement, Mavenir stockholders could elect to receive either all-cash or all-stock consideration for each share of Mavenir common stock of $17.55 and 1.8320 Mitel shares, respectively, subject to proration. Approximately 83 percent of Mavenir's outstanding shares were tendered and, following the exercise of a top-up option, Mitel completed the acquisition by merging its subsidiary with Mavenir.
Mitel is an Ottawa-based unified communications company that helps businesses connect, collaborate and take care of their customers. Headquartered in Dallas, Mavenir provides software-based mobile networking solutions that enable service providers to deliver next generation services over 4G LTE networks.
The Paul, Weiss team included, among others, corporate partner Adam Givertz and counsel Steven Centa and Didier Malaquin; intellectual property counsel Menachem Kaplan; tax partner Scott Sontag; environmental counsel William O'Brien; real estate partner Mitchell Berg; regulatory counsel Richard Elliot; and litigation partner Andrew Gordon.
