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Last $9.13 USD
Change Today -0.16 / -1.72%
Volume 547.1K
MITL On Other Exchanges
As of 8:10 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

mitel networks corp (MITL) Snapshot

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52 Week High
05/12/14 - $11.94
52 Week Low
10/13/14 - $7.75
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Current Stock Chart for MITEL NETWORKS CORP (MITL)

mitel networks corp (MITL) Related Businessweek News

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mitel networks corp (MITL) Details

Mitel Networks Corporation provides business communications and collaboration software and services worldwide. The company’s Premise segment sells and supports premise-based IP and time-division multiplexing, telephony platforms, desktop and in-building mobile devices, and UCC and contact center applications. Its Cloud segment offers retail cloud services that provide hosted cloud services directly to end users, which include UCC applications, voice and data telecommunications, and desktop devices; and wholesale services, including hosted PBX, voice and video calling, SIP Trunking, call center, audio conferencing, and video and Web collaboration services for service providers. The company provides various IP telephony platforms, including MiVoice MX-One and MiVoice Business for supporting cloud and premise implementations; MiVoice Office 400 that addresses IP and traditional communications needs through an IP-centric hybrid architecture; and MiVoice Office 250 and MiVoice 5000 that provide foundation for integrated communications solutions. It also provides a range of IP and digital phones, specialty desktop devices, and peripherals; IP operator consoles, and video and audio conference units; and in-building wireless solutions based on DECT technology. In addition, the company offers unified and collaborative communications; mobility and convergence services; contact center applications; unified multi-media messaging solutions; audio, video, and Web conferencing tools; speech auto attendant solutions; teleworker solutions; business reporter; and cloud portal and provisioning solutions. Further, it provides lifecycle management, managed service solutions, lease financing, mobile solutions, voice and data, and support services; and MiCloud, a family of cloud communications services. The company sells its products through direct and indirect channels, as well as strategic technology partnerships. Mitel Networks Corporation is headquartered in Ottawa, Canada.

3,258 Employees
Last Reported Date: 02/26/15

mitel networks corp (MITL) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $696.2K
Chief Financial Officer
Total Annual Compensation: $412.8K
Executive Vice President and President of Ame...
Total Annual Compensation: $327.4K
Chief Products and Solutions Officer and Exec...
Total Annual Compensation: $322.4K
Chief Sales Officer and Executive Vice Presid...
Total Annual Compensation: $291.7K
Compensation as of Fiscal Year 2014.

mitel networks corp (MITL) Key Developments

Mitel Networks Corporation and Mitel U.S. Holdings, Inc. Completes a Refinancing of its Long-Term Senior Debt by Entering into a Senior Secured Credit Agreement

On April 29, 2015, Mitel, in connection with the consummation of the Offer and the Merger completed a refinancing of its long-term senior debt by entering into a senior secured credit agreement among Mitel and Mitel U.S. Holdings, Inc. as the borrowers, Bank of America, N.A. as the administrative agent and collateral agent, Bank of America, N.A. as the Canadian administrative agent and Canadian collateral agent, and Bank of America, N.A. and Credit Suisse Securities (USA) LLC as joint lead arrangers and joint bookrunners, HSBC Bank Canada, Export Development Canada and Societe Generale as Co-Documentation Agents and the lenders named therein. Subject to certain exceptions, all of Mitel's obligations under the New Credit Facilities are or will be guaranteed by each existing or subsequently acquired or created wholly owned material subsidiary of Mitel, including Mavenir, and are or will be secured on a first priority basis by a perfected first priority security interest in substantially all tangible and intangible assets of Mitel and each of such guarantors and in the equity interests of Mitel's and such guarantors' direct material subsidiaries. The Credit Agreement consists of an undrawn $50 million revolving credit facility and a fully drawn $660 million term loan facility. Proceeds from the New Credit Facilities were used to finance the acquisition of Mavenir, repay the approximately $280.2 million outstanding under Mitel's existing credit facilities and to repay the approximately $27.3 million outstanding under Mavenir's existing credit facilities, as well as fees and expenses related to the foregoing. The undrawn $50 million revolving Credit Facility bears interest at LIBOR, or a base rate at the option of Mitel, plus an applicable margin which is currently 4.0% and the revolving Credit Facility matures on April 29, 2020. Mitel may also borrow Canadian dollars under the revolving Credit Facility. Such borrowings bear interest at the Canadian prime rate plus an applicable margin, which is currently 3.0%. The $660 million term loan bears interest at LIBOR (subject to a 1.00% floor), or a base rate at the option of Mitel, plus an applicable margin which is currently 4.0% and the term Credit Facility matures on April 29, 2022. The term Credit Facility requires quarterly principal repayments of 0.25% of the original outstanding principal amount.

MITEL NETWORKS CORP Appoints Wes Durow as Chief Marketing Officer

MITEL NETWORKS CORP announced that Wes Durow has joined the company as Chief Marketing Officer. Mr. Durow joins Mitel as it continues to implement a disciplined and ambitious growth strategy that has made the company a global leader in business communications. He joins Mitel from Sonus Networks where, as Vice President of Global Marketing, he was responsible for all marketing activities globally as well as inside sales and training.

Mitel Appoints Graham Bevington as Executive Vice-President and Chief Sales Officer

Mitel announced that it has appointed Graham Bevington to the newly created position of Executive Vice-President and Chief Sales Officer. In this role, Graham will have general management responsibility and accountability for Mitel's worldwide sales operations. He will work to coordinate and leverage opportunities across regions through global strategic accounts, and to establish a global network of distribution partners to drive Mitel's market presence. In addition, with a strategic vision to expand Mitel's historic strength in vertical markets, Graham will introduce and implement a series of global vertical market sales programs. He will also play a lead role in assessing and evaluating potential M&A opportunities for the company. Prior to his current position, Graham led Mitel's Europe, Middle East and Africa sales organization.


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Price/Sales 0.8x
Price/Book 2.0x
Price/Cash Flow 19.8x
TEV/Sales 0.4x

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