Searchlight-backed Mitel in talks to combine with Avaya: WSJ

Mitel Networks Corp is in talks to combine with Avaya Holdings Corp, a Santa Clara, California-based telecommunications equipment and software company, according to a report by the Wall Street Journal.

Mitel, an Ottawa-based provider of business communications, collaboration and contact-centre solutions, has proposed a stock deal valued at between roughly US$2.2 billion and US$2.4 billion, the report said. An agreement could come next month.

Last year, Mitel, then a listed company, was acquired by a consortium led by U.S. private equity firm Searchlight Capital Partners. The purchase price was about $2.6 billion.