Acquirer: Mitel Networks Corporation (Canada)
Acquired: Polycom, Inc. (U.S.)
Value: Approximately US$1.96 billion
On April 15, 2016, Mitel, a Canadian company, announced a definitive deal to acquire Polycom, a US business, to make a global leader in communications technologies. See Mitel press release (April 15, 2016). On June 28, 2016, 74 days after execution of the agreement, Mitel has reported that the parties have obtained CFIUS clearance for their merger. Both companies are strong in business communications and collaborative technologies, including cloud computing, and both had preexisting operations in the United States. The approximate deal value is US$1.96 billion.