Mitel said there had been a period of intense change in the communications and collaboration sector that changed the nature of the market.
It said it had already capitalised on such market dynamics – particularly the advent of cloud-based UC services – and the addition of Polycom would help users operate more efficiently.
“Polycom is one of the most respected brands in the world and is synonymous with the high quality and innovative conference and video capabilities that are now the norm of everyday collaboration,” said Mitel CEO Richard McBee.
“Together with voice communications from Mitel, the combined company will have the talent and technology needed to truly deliver integrated solutions to businesses and service providers across enterprise, mobile and cloud environments.”
Mitel claimed the acquisition would make it the market leader in business cloud communications, European IP PBX extensions, conference phones, and open session initiation protocol (Sip) sets, with an installed customer base in 82% of Fortune 500 firms.
Read more about unified communications
- Video banking is set to take off over the next few years to improve the personal connection between banks and customers, according to research.
- The University of Hull is to deploy an Avaya telephone and unified communications environment to reduce costs as part of a digital transformation project.
- International defence organisation Nato enhances internal collaboration across its secure network with a new Polycom unified communications system.
Subject to approval, the merger is set to be wrapped up in the third calendar quarter of 2016, and will be accretive to Mitel’s earnings in 2017.
The combined company will be based in Ottawa in Canada, and will have about 7,700 employees. It will be headed by McBee. Mitel said it was likely to retain the Polycom name.