Mitel is acquiring certain Toshiba communications assets, according to a Memorandum of Understanding (MoU) revealed today. This follows Toshiba’s decision earlier this year to exit the market.
According to a statement from both companies:
"Combined with the transfer of existing inventory, the MoU also contemplates a transition services agreement ensuring product and service continuity for Toshiba customers. Both companies are committed to supporting warranty and maintenance obligations."
The deal is expected to be completed this summer. Actual financial terms were not disclosed.
Toshiba in March 2017 announced plans to shut down its Telecommunication System Division (TSD) and associated hosting platform services. Toshiba TSD’s demise is one piece of a much larger series of bankruptcy-related challenges involving the company.
