The European subsidiary of Aastra Technologies Ltd (TSX: AAH) has bought for an undisclosed price Telepo Ltd, a provider of cloud-based, multi-tenant enterprise communication solutions with headquarters in Stockholm, Sweden. Aastra was given consent to acquire Telepo from Mitel Networks Corp (TSX: MNW) (Nasdaq: MITL), which is in the final stages of acquiring the Concord, Ont.-based business communications vendor for around $400 million. Mitel, an Ottawa-based cloud and communications software solutions provider, is majority-owned by U.S. private equity firm Francisco Partners and Dr. Terence Matthews. Osler, Hoskin & Harcourt LLP is acting for Mitel on the Aastra deal.
Aastra Acquires Telepo to Enhance Its Cloud Offering
TORONTO, ONTARIO–(Marketwired – Jan 20, 2014) – Aastra Technologies Limited – (TSX:AAH) (“Aastra”) is pleased to announce that its European subsidiary has acquired Telepo Ltd., the Nordic leader for cloud-based, multi-tenant Enterprise Communication solutions.
Headquartered in Stockholm, Sweden, Telepo offers carrier-grade, cloud-based, multi-tenant Unified Communication (UC) solutions. Telepo’s solution is based on a web-centric architecture which is highly scalable, flexible and offers best-in-class mobile integration, including the full range of standard voice, PBX and call center features with fully-integrated security and pre-built web based portals for multiple tiers of administrators.
Telepo gained traction in 2013, with over 40% growth in active users as compared to 2012. Telepo ended the year with over 90,000 active users and became profitable as a result of its continued focus on developing its innovative multi-tenant solution addressing the requirements of its service providers and their enterprise customers. Telepo now provides its UC solution through 16 service providers, including the two largest telecom operators in Sweden. Aastra will leverage Telepo’s solution and growth opportunities to enhance its offerings for the European market, now enabling its customers to decide whether they wish to implement market leading premised-based, virtualized or multi-tenant cloud-based solutions depending on their particular needs.
In accordance with the Arrangement Agreement dated November 10, 2013 between Mitel Networks Corporation (TSX:MNW) (NASDAQ:MITL) (“Mitel”) and Aastra, Mitel has provided its consent to Aastra for the Telepo acquisition. Telepo’s multi-tenant solution will complement Mitel’s current multi-instance and virtualized solution upon completion of the merger of Mitel and Aastra.
Bowen Advisors Inc. acted as financial advisor to Telepo and Baumgarten Byström Rooth & Tallavaara Advokater AB acted as legal counsel to Telepo. McCarthy Tétrault LLP acted as legal counsel to Aastra.
Forward Looking Statements
Some of the statements in this press release are forward-looking statements (or forward-looking information) within the meaning of applicable Canadian securities laws. These include statements using the words target, outlook, may, will, should, could, estimate, continue, expect, intend, plan, predict, potential, project and anticipate, and similar statements which do not describe the present or provide information about the past. Such statements may include, without limitation, statements regarding the completion of the Arrangement and other statements that are not historical facts. There is no guarantee that the expected events or expected results will actually occur. Such statements reflect the current views of management of Aastra and are subject to a number of risks and uncertainties. These statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, corporate approvals, regulatory approvals, operational factors and other factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. All forward-looking statements attributable to Aastra, or persons acting on their behalf, are expressly qualified in their entirety by the cautionary statements set forth in this paragraph. Undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. Except as required by law, we do not have any intention or obligation to update or to publicly announce the results of any revisions to any of the forward-looking statements to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. You are advised to consult Aastra’s Management Proxy Circular dated December 11, 2013 and the Arrangement Agreement dated November 10, 2013 made between Aastra and Mitel for risks, uncertainties and additional information relating to the Arrangement, as well as any further public disclosures made by Aastra on related subjects in reports and communications filed on the System for Electronic Document Analysis and Retrieval (SEDAR).
Aastra Technologies Limited (TSX:AAH) is a global company at the forefront of the Enterprise Communication market. Headquartered in Concord, Ontario, Canada, Aastra develops and delivers innovative and integrated solutions that address the communication needs of businesses small and large around the world. Aastra enables Enterprises to communicate and collaborate more efficiently and effectively by offering customers a full range of open standard IP-based and traditional communications solutions, including terminals, systems, and applications. For additional information on Aastra visit www.aastra.com.
Telepo Ltd. is an innovative software vendor enabling any type of service provider to offer advanced business communication solutions as a service under its own brand. Telepo’s Business Communication Solution (BCS) is a multi-tenant, unified communication solution that integrates mobile, fixed, and IP-based communication networks and is a secure, cost-effective route for telecom operators and service providers looking to offer enterprise services from their clouds. Telepo is a privately held company funded by Accel Partners, Investor Growth Capital and Kreos Capital and was founded in 2004. Telepo is headquartered in Stockholm, Sweden. www.telepo.com.
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