Slashdot is powered by your submissions, so send in your scoop


Forgot your password?
Check out the new SourceForge HTML5 internet speed test! No Flash necessary and runs on all devices. ×

Submission + - Mitel to buy Inter-Tel in $723 million deal

Ben writes: ""Mitel Networks has agreed to buy Inter-Tel Inc. in a $723 million dollar deal that is expected to close in the third quarter of 2007, the two companies said in a joint release on Thursday."
"According to the release, Ottawa-based Mitel will pay $25.60 in cash for each Inter-Tel share. That represents a 7.6 percent premium over the $23.79 closing price of Inter-Tel's shares on Nasdaq."
"Last year, former Inter-Tel Chief Executive Steven Mihaylo and his private equity firm Vector Capital Corp. withdrew a takeover bid, a day after Inter-Tel said shareholders rejected his non-binding resolution to put the company up for sale to the highest bidder. " 49429720070426"

Slashdot Top Deals

As in certain cults it is possible to kill a process if you know its true name. -- Ken Thompson and Dennis M. Ritchie