Mitel and Aastra have completed their merger, forming a $1.1bn global business communications force serving 60 million customers.
First announced in November 2013, the merger has resulted in the creation of a serious force in the business comms market, boasting market leadership in Western Europe.
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Mitel said that as a result, it was ready to capitalise on the growth opportunities as communications continues its migration to the cloud.
“We now have double the talent, tools and range of solutions to aggressively compete for a greater share of our market,” said Mitel CEO Richard McBee, who will continue to run the new firm from Mitel’s Canadian lair.
As well as a more comprehensive comms package, Mitel also commands an expanded $100m annual R&D budget, and said it would continue to support ongoing innovation around its portfolio.
At the same time, Mitel has also completed financing of a $405m credit facility, consisting of $355m to mature six years from now, and a $50m revolving credit facility that will mature in January 2019, organised through Jefferies Finance LLC and the Toronto-Dominion Bank.
Mitel CFO Steve Spooner explained that the credit facilities would significantly reduce the amount the business pays out in interest, and enhance its operating flexibility.