MITEL NETWORKS $12.87 (Toronto symbol MNW; TSINetwork Rating: Extra Risk)(613-592-2122; www.mitel.ca; Shares outstanding: 100.1 million; Market cap: $1.3 billion; No dividends paid) develops and markets products centred on business telephone systems. This includes products that integrate land lines and mobile phones. The company also offers call centre and video conferencing products.
In the three months ended December 31, 2014, Mitel’s revenue jumped 108.1%, to $301.4 million from $144.8 million a year ago (all figures except share price and market cap in U.S. dollars). Most of the increase came from Aastra Technologies, which Mitel acquired in January 2014. Earnings per share rose 89.5%, to $0.36 from $0.19.
Mitel recently agreed to buy Mavenir Systems (symbol MVNR on New York) for $560 million U.S.
This is an important move for Mitel, because right now the company mainly offers communication services to businesses over land-line phones. Mavenir will help it move into the market for voice-over longterm evolution, or VoLTE, a technology that repackages voice calls as data and transmits them over wireless networks. VoLTE is quickly becoming the standard for high-speed wireless communications.
Users of Mavenir’s networking software include TMobile and Verizon Communications. In all, the company serves 130 telecom firms, including 15 of the world’s 20 largest mobile carriers.
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