In what for some is a surprising outcome, unified communications vendor Mitel Networks said that it will acquire videoconferencing vendor Polycom for $1.8 billion.
While a merger between the two companies has reportedlybeen in the works since October 2015, Elliott Management, which owns a 6.6 percent stake in Polycom and a 9.7 percent stake in Mitel, originally suggested that San Jose, Calif.-based Polycom acquire Mitel. Earlier this month, however, Bloomberg reported that Mitel was in talks to acquire Polycom for $1.7 billion.
