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Mitel’s 35 million global customers have been given a migration path to RingCentral’s Message Video Phone platform following an exclusive UCaaS deal between the vendors.
As part of the transaction, Mitel’s existing investor group led by affiliates of Searchlight will invest $200 million in equity in RingCentral and RingCentral will pay $650m to acquire intellectual property rights for Mitel’s CloudLink technology.
Tarun Loomba, President and CEO at Mitel said: “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.”
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