Stock Monitor: AudioCodes Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 01, 2018 / Active-Investors.com has just released a free research report on Mitel Networks Corp. (NASDAQ: MITL) ("Mitel"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MITL as the Company's latest news hit the wire. On January 30, 2018, the Company, which is a leading firm in the field of business communications, announced a partnership with Westcon-Comstor, a leading technology distributor, pursuant to which, Westcon-Comstor would distribute Mitel's portfolio of on-site and cloud-based communications and collaboration solutions in the German market. Mitel is reportedly the leading supplier of business communication systems in Europe and was also recognized as a leader in the Gartner Magic Quadrant for Unified Communications for four consecutive years. Register today and get access to over 1000 Free Research Reports by joining our site below:
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According to Mitel, the partnership addresses the demands of companies expecting new technology solutions to help transform their business and demand for seamless communications. The Company stated that it would work closely with Westcon-Comstor to address the particular need in the mid-large size enterprise market via its broad on-site portfolio and applications.
Westcon-Comstor stated that it would gradually expand into Mitel's cloud-based offering to leverage the strong momentum in cloud adoption across Germany. The partnership, according to the Company, would enable more businesses in Germany to leverage seamless communications and collaboration, while also providing channel partners strong support and access to market-leading solutions.
Westcon-Comstor views this partnership as a step to leverage Mitel's attractive portfolio and extensive offering of on-site and cloud solutions. The Company further added that the Mitel's expertise and the ability to support the requirements of businesses with both models, delivers customers the flexibility and choice to meet the needs of today and tomorrow. Westcom-Comstor caters technology distribution of category-leading solutions in Security, Collaboration, Networking, and Data Center, and is transforming the technology supply chain through its expertise in the Cloud, Services, and Global Deployment.
Company Growth Prospects
Mitel, a leading business communications Company, serves more than 70 million business users in over 100 countries. Prior to the announcement, on January 29, 2018, the Company announced that it has rebranded and integrated its portfolio of cloud and on-site solutions for the North American market. The announcement closely followed the acquisition of ShoreTel, offering a broad portfolio designed to deliver customers maximum choice and flexibility to deliver the best path to the cloud. In addition to its flagship portfolio, Mitel announced that it would continue to deliver industry-proven cloud and on-site solutions and applications, which to-date, have enabled the Company to be a market leader.
The Company recently reported its Q3 FY17 results on November 02, 2017, for the three-month period ended September 30, 2017. The Company stated that enterprise customers transitioning to cloud helped push cloud booking up over 30% to a new record, while revenues grew 24% y-o-y. Post the completion of the ShoreTel acquisition in Q3 FY17, the Company significantly accelerated its cloud strategy, moving Mitel firmly to the #2 position in the UCaaS market across the world.
Stock Performance Snapshot
January 31, 2018 - At Wednesday's closing bell, Mitel Networks' stock fell 1.10%, ending the trading session at $9.00.
Volume traded for the day: 639.91 thousand shares.
Stock performance in the last month – up 9.36%; previous three-month period – up 4.17%; past twelve-month period – up 29.68%; and year-to-date - up 9.36%
After yesterday's close, Mitel Networks' market cap was at $1.08 billion.
The stock is part of the Technology sector, categorized under the Communication Equipment industry. This sector was up 0.6% at the end of the session.
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