Mitel took a wrong turn in 2015, buying startup Mavenir, a deal that broke the value-stock argument Mitel investors had loved. Having divested Mavenir, CEO Rich McBee says Mitel is back to its value focus, while still investing in cloud computing and pursuing M&A.
Sometimes, companies wander from their true business and need to restructure. Sometimes, they wander from what their investors prefer, and they have to get back to basics.
The latter is the case for Mitel Networks (MITL), the 44-year-old*, Ottawa, Ontario Canada-based vendor of what’s known as “unified communications.” The company in recent years had strayed from its value-stock profile but is now coming back into the fold.