Polycom says to be bought by PE firm; ends Mitel deal

Fri Jul 8, 2016 7:17am EDT
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July 8 (Reuters) - Video conferencing equipment maker Polycom Inc said it agreed to be bought by private equity firm Siris Capital Group for about $1.7 billion, ending a deal with Canada's Mitel Networks Corp.

Siris Capital's offer of $12.50 per share in cash represents a premium of 15 percent to Polycom's Thursday close. (Reporting by Narottam Medhora in Bengaluru; Editing by Saumyadeb Chakrabarty)