BRIEF-Mitel to acquire Polycom in deal valued at about $1.96 bln

Fri Apr 15, 2016 6:07am EDT
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April 15 (Reuters) - Mitel Networks Corp :

* Mitel announces definitive agreement to acquire Polycom

* Says transaction valued at approximately $1.96 billion

* Transaction expected to be accretive to Mitel in 2017

* Mitel Networks Corp says Polycom stockholders will be entitled to $3.12 in cash and 1.31 Mitel common shares for each share of Polycom common stock

* Polycom brand to be retained

* Richard Mcbee, Mitel's chief executive officer will lead combined organization.

* Steve Spooner, Mitel's chief financial officer, will also continue in that role

* Says expected that Polycom directors will assume two seats on Mitel board   Continued...