MoU includes the transfer of inventory to provide Toshiba customers and partners a seamless path forward
Mitel, Ottawa-based leader of enterprise communications, confirmed it has signed a Memorandum of Understanding (MoU) to transfer certain assets and support obligations, including existing inventory, from Toshiba Corporation to Mitel. This follows Toshiba’s decision earlier this year to exit the market. The transaction will provide Toshiba customers and partners a clear path forward with Mitel, a global leader in Unified Communications and Collaborations (UCC).
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 transaction reflects Mitel’s strategy to focus the company on expanding its position in the UCC market as digital transformation accelerates demand for cloud-based business communications solutions globally. Toshiba is well known and well respected for their industry insight and innovation, and their high quality customer and partner base reflect that leadership. The transaction, once closed, will immediately expand Mitel’s customer base and the company’s global leadership position in cloud communications.
The transaction is expected to be completed early this summer.