![]() ![]() These statements relate to, among other things, the anticipated opportunities and benefits of the strategic partnership between RingCentral and Mitel. This press release includes forward-looking statements within the meaning of the federal securities laws. Investor Presentation DetailsĪn investor presentation providing additional information and analysis can be found at. ![]() Additional product enhancements leveraging joint technologies beginning with Mitel phone and device support for RingCentral MVP is planned for the first half of 2022. Product will continue to be branded RingCentral MVP, accelerating availability to Mitel’s entire customer base through RingCentral’s and Mitel’s combined channels. Wilson Sonsini Goodrich & Rosati, Professional Corporation served as legal advisor to RingCentral and Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Searchlight and MLN TopCo Limited, the parent of Mitel. RingCentral will pay Mitel $650 million to acquire intellectual property rights and patents covering network and call management, security, and infrastructure. Demonstrating its commitment and excitement about the partnership, Mitel’s existing investor group led by affiliates of Searchlight will invest $200 million in equity in RingCentral as part of the transaction. “Given our maniacal customer-centric focus, we’re delighted to now be able to offer customers a flexible and differentiated digital transformation path.” Financial Terms “We are bringing together the best of Mitel and RingCentral to give customers the right communications and collaboration solutions for their needs,” said Vlad Shmunis, RingCentral’s founder, chairman and chief executive officer. This use case provides a seamless, highly differentiated transition path to full cloud adoption. “The unique depth of this partnership furthers our strategy of delivering world-class communications to our customers and providing them a clear and flexible path for the future.”ĬloudLink, an innovative cloud platform enabling customers to integrate their on-premises infrastructure with modern cloud applications, will enable Mitel customers to leverage their existing on-premises PBX capabilities via the RingCentral application. “We are excited to bring the market-leading UCaaS solution to our customers and channel partners with RingCentral as our exclusive UCaaS partner,” said Tarun Loomba, newly appointed president and chief executive officer at Mitel. Mitel will continue to support customers on its MiCloud Connect platform and, working with RingCentral, provide a seamless path to RingCentral’s best-in-class cloud-based MVP for all its customers in a manner and pace that best fits each customer’s needs.
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