Newbridge billionaire buys Mitel Networks
Going to build a £5bn VoIP business
Posted in Data Networking, 19th February 2001 09:55 GMT
Free whitepaper – Reliability analysis of the APC Symmetra MW Power System
Wales' first billionaire, Terry Matthews, has bought back comms outfit Mitel Networks, a division of the Mitel company he founded in 1972.
He's paid £160 million for the business.
Paul Butcher, who's been recruited as CEO of the Mitel Networks, said the business was committed to building on its development work in voice over IP.
Matthews plans to float Mitel Networks in 18 months time, after investing another £100 million in it, and expects it to be valued at £5 billion by then.
Matthews made £1 billion selling Newbridge Networks to Alcatel last year. ®
Related Story
Free whitepaper – Fundamental Principles of Air Conditioners for Information Technology

Enabling The Agile Data Center
Dell PowerEdge R710 solution with VMware ESX vs. Dell PowerEdge 2850 solution
New storage architectures make SSDs more cost-effective
Analyst Keynote: The Register Agile Data Center Summit

OpenOffice.org pushes gamers' buttons with OOMouse
Big Iron, big data, big networks, big problems
Spectra launches T-Finity, plans beyond
HP scores SMB storage hat-trick