Board reconsiders Inter-Tel, Mitel deal

Ottawa’s Mitel Networks hopes soon to see an end to the drama taking place over its effort to buy a U.S. competitor, Inter-Tel Inc., that would double its size.

Last month Inter-Tel founder Steven Mihaylo forced the company’s board to delay a special meeting of shareholders to approve the proposed US$723 acquisition until July 23, raising questions of whether management has the votes to okay a deal that Mitel believes will give it improved access to U.S. telecom system buyers.

Mihaylo, who owns 19 per cent of publicly-traded Inter-Tel and still sits on its board, told shareholders that he could manage a “leveraged recapitalization” of the Arizona-based maker of voice and data solutions without taking it private, which would yield “significantly greater present value” than the

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Howard Solomon
Howard Solomon
Currently a freelance writer, I'm the former editor of and Computing Canada. An IT journalist since 1997, I've written for several of ITWC's sister publications including and Computer Dealer News. Before that I was a staff reporter at the Calgary Herald and the Brampton (Ont.) Daily Times. I can be reached at hsolomon [@]

Featured Articles

Empowering the hybrid workforce: how technology can build a better employee experience

Across the country, employees from organizations of all sizes expect flexibility...

What’s behind the best customer experience: How to make it real for your business

The best customer experience – the kind that builds businesses and...

Overcoming the obstacles to optimized operations

Network-driven optimization is a top priority for many Canadian business leaders...

Thriving amid Canada’s tech talent shortage

With today’s tight labour market, rising customer demands, fast-evolving cyber threats...

Staying protected and compliant in an evolving IT landscape

Canadian businesses have changed remarkably and quickly over the last few...

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now