Mitel Networks to buy Aastra Technologies for C$392 mln

Mon Nov 11, 2013 6:17am EST
 
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Nov 11 (Reuters) - Mitel Networks Corp , which provides internet telephony and video-conferencing services, said it would buy smaller rival Aastra Technologies Ltd for C$392 million ($374 million).

Mitel will pay Aastra shareholders $6.52 in cash plus 3.6 Mitel shares per Aastra share, or C$31.96 per share.

The offer prices represents a 13 percent premium to Aastra's Friday close of C$28.23 on the Toronto Stock Exchange.