Topic: How To Invest

Stock Pickers Digest Hotline – Friday, December 23, 2016

Article Excerpt

Dear client, PLEASE NOTE: This is our last Hotline for 2016. Our next Hotline will go out on Friday, January 6, 2017. MITEL NETWORKS CORP., $9.04, symbol MNW on Toronto, makes technology that integrates landlines and mobile phones. The company also offers call-centre and videoconferencing products. In April 2015, Mitel acquired Mavenir Systems for $560 million U.S. The purchase was to help Mitel move into a new market: voice-over long-term evolution, or VoLTE. That technology repackages voice calls as data and transmits them over wireless networks. Mitel subsequently changed Mavenir’s name to Mitel Mobile. Mitel has now agreed to sell Mitel Mobile to U.S. digital communication company Xura, Inc. for $350 million U.S. in cash, plus a $35 million U.S. non-interest promissory note. Mitel will also get an equity stake valued at $125 million U.S in a new company, Sierra Private Investments. L.P. Sierra will hold Xura and Mitel Mobile. As well, Mavenir former-CEO Pradeep Kohl will return to lead Sierra. He…