On November 9, 2021,  RingCentral, a leading provider of global enterprise cloud communications, video meetings, collaboration, and contact center solutions, and Mitel, a global leader in business communications, announced a strategic partnership to provide Mitel’s global customer base with a seamless migration path to RingCentral’s Message Video Phone™ (MVP®) cloud communications platform. Wilson Sonsini Goodrich & Rosati represented RingCentral in the transaction.

As part of the agreement, RingCentral becomes Mitel’s exclusive UCaaS partner, providing their customers with a next generation, mobile-first, cloud communications platform with high reliability and security, rich functionality, and broad enterprise app integrations. Mitel will continue to support customers on its MiCloud Connect platform and, working with RingCentral, provide a seamless path to RingCentral’s best-in-class cloud-based MVP for all its customers in a manner and pace that best fits each customer’s needs.

As part of the overall transaction, RingCentral acquired intellectual property rights and patents covering network and call management, security, and infrastructure, including Mitel’s CloudLink technology, for $650 million, subject to a holdback. Demonstrating its commitment and excitement about the partnership, Mitel’s existing investor group led by affiliates of Searchlight Capital Partners have made a $200 million investment in RingCentral in the form of newly designated Series A Preferred Stock.

The Wilson Sonsini team that advised RingCentral in the transaction includes:

M&A
Rich Mullen
Joy-Annette Atsegbua

Technology Transactions
Chris Paniewski
Barath Chari
Sean Withall
Dena Smith

Credit Finance
Erik Franks

Privacy and Cybersecurity
Matt Staples
Daniel Chen

Tax
Myra Sutanto Shen
Nika Antonikova

Anti-Corruption
Tarek Helou
Seth Cowell

For more information, please see RingCentral's press release.