Davis Polk Advises Mavenir on Its Acquisition by Mitel
Davis Polk is advising Mavenir Systems, Inc. in connection with the acquisition of all of its outstanding shares of common stock by Mitel Networks Corporation in a cash and stock deal valued at approximately $560 million. The closing of the transaction, which is expected in the second quarter of 2015, is subject to Mavenir stockholders having tendered shares representing a majority of the outstanding shares of Mavenir common stock on a fully diluted basis, certain regulatory and stock exchange approvals, and other customary conditions.
Mavenir Systems provides software-based mobile networking solutions that enable service providers to deliver next generation services over 4G LTE networks. Powering more than two billion connections every day, Mitel helps businesses connect, collaborate and take care of their customers.
The Davis Polk corporate team includes partner William H. Aaronson and associate John B. Weinstein. Partner Rachel D. Kleinberg is providing tax advice. Partner Jeffrey P. Crandall is providing executive compensation advice. Counsel Stephen M. Pepper is providing antitrust and competition advice. Partner Joseph P. Hadley and associate Yitz Segal are providing credit advice. Counsel Scott B. Luftglass is providing litigation advice. Members of the Davis Polk team are based in the New York and Washington DC offices.