This is big news, and started leaking out yesterday. Mitel is one of those stable companies, always there behind the scenes, doing really good stuff.

What catches my eye here is that this is that, to my knowledge, neither company is in any trouble. Both are doing well and coming from strength. To me, that means they see big opportunities ahead. This isn't an acquisition for survival in any way.

Complimentary product portfolios, with expertise across a range of communications, networking and management techniques could make this a formidable team in the marketplace.

Mitel Announces US$723 Million Agreement to Acquire Inter-Tel
Creates A Market Leader In IP Communications Solutions For The Enterprise And SMB Markets

OTTAWA, Ontario, and TEMPE, Arizona, April 26, 2007 – Mitel Networks Corporation and Inter-Tel (Delaware) Incorporated (Nasdaq: INTL), today announced they have signed a definitive merger agreement whereby Mitel will acquire Inter-Tel, a full-service provider of business communications solutions for US$25.60 per Inter-Tel share in cash, representing a total purchase price of approximately US$723 million.

Once completed, the merger creates a market leader in the US and UK SMB IP communications industry, the fastest growing sector of the IP communications market. The private company will have two trusted, customer focused brands and anticipated revenues of over US$800 million, twice those of Mitel today.

“We believe that this transaction will deliver superior value to Inter-Tel’s stockholders, and Mitel is the right partner to create additional growth opportunities for our employees and provide exceptional products and services to our customers for the long-term,” said Alexander Cappello, Chairman of the Board of Inter-Tel.
[Read full press release]