April 15, 2016 / 10:22 AM / in a year

Canada's Mitel to buy Polycom for about $1.96 bln

April 15 (Reuters) - Canadian telecom services provider Mitel Networks Corp said it will buy U.S. peer Polycom Inc for about $1.96 billion in cash and stock.

Under the terms of the deal, Polycom stockholders will get $3.12 in cash and 1.31 Mitel shares for each share of Polycom common stock, or $13.68 based on the closing price of a Mitel common share on April 13. (Reporting by Rishika Sadam in Bengaluru; Editing by Shounak Dasgupta)

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