On 2 March 2015, Mitel announced its intent to acquire Mavenir for $560M as a means of entering the mobile infrastructure space and creating revenue diversity. Not even 2 years later Mitel has decided to divest the mobile division to Siris Capital for $350M cash and a $35M non-interest bearing note. This is significantly less than Mitel originally paid for the business despite revenue in the business growing over the past few years. The move to sell the business doesn’t surprise me. I always found the mix a hard one, and at an analyst event with Mitel in November that was very apparent. Clients, log in to read the complete insight.