Mitel Reportedly Preparing To File For Chapter 11 Bankruptcy
Mitel is reportedly preparing to file for Chapter 11 bankruptcy.
As reported by Bloomberg, the Canadian enterprise communications titan is currently negotiating debt restructuring with its creditors. The company is allegedly pursuing this avenue because of declining revenues and upcoming debt maturation.
Bloomberg, citing sources with direct understanding of the negotiations but who requested anonymity, suggested Mitel’s debt instruments have seen unprecedented depreciation, with financial intermediaries assigning minimal value to the loans.
Mitel told UC Today:
Mitel has been proactively working closely with our lenders to optimise our capital structure and position the company for sustained, long-term success. All the paths we are evaluating will allow Mitel to continue operating in the ordinary course and will set us up to be an even stronger vendor and partner. Please note that any definitive updates will come directly from Mitel.”
Multiple market sources cited by Bloomberg indicate that Mitel’s $235 million first-lien term loan, set to mature in December 2025, is currently trading at a fraction of a cent on the dollar.
Alianza Finalises Metaswitch Acquisition from Microsoft in UCaaS Landscape Shake-up
Alianza has confirmed its acquisition of Metaswitch from Microsoft in a major shakeup of the UCaaS landscape.
First revealed in December, cloud communications leader Alianza has completed its acquisition of Metaswitch from Microsoft, following the Definitive Agreement announced in December 2024. Alianza affirms that by combining Metaswitch’s capabilities with its own cloud-native solutions, service providers can modernise core networks, enhance operational efficiency, and unlock new revenue opportunities through innovative offerings.
“The acquisition of Metaswitch by Alianza will accelerate product innovation and growth for thousands of service providers across the industry who face similar obstacles in modernising their networks,” said Brian Beutler, CEO and founder of Alianza.
"Network infrastructure and operating complexity is often an insurmountable barrier for communications service providers, but with the combination of Alianza and Metaswitch, we are bringing together two world-class teams with complementary expertise to overcome challenges and unleash innovation at a pace not seen in decades across the telecom ecosystem.”
With the completion of this acquisition, Alianza now serves over 1,000 comms service providers, including 19 of the top 20 global operators.
