Paul, Weiss is representing Mitel Networks Corporation in its agreement to sell its mobile division to the parent company of Xura, Inc. for $350 million in cash, a $35 million promissory note and an equity interest in Sierra Private Investments, which on closing will become the parent company of the mobile division and Xura.
Mitel Networks Corporation provides business communications and collaboration software, services, and solutions in the Americas, the European Union, the Middle East, Africa, and the Asia-Pacific regions. The company, led by Richard D. McBee, Steven E. Spooner and Graham G. Bevington, is based in Ottawa (ON).
The transaction is expected to close in the first quarter of 2017, subject to customary closing conditions.
The Paul, Weiss team included corporate partners Adam Givertz (Picture) and Dale Sarro and counsel Stephen Centa, Marta Kelly, Andrea Quek and Lindsey Wiersma; intellectual property counsel Menachem Kaplan; tax partner Scott Sontag and counsel Alyssa Wolpin; employee benefits partner Andrew Gaines; environmental counsel William O’Brien; real estate partner Mitchell Berg; and international trade counsel Richard Elliott.
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