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In April, Mitel agreed to acquire Polycom for $1.98 billion in cash and stock, as reported by ExitHub. Elliott Management has more than $27 billion of assets under management. Its flagship hedge fund Elliott Associates LP was founded in 1977 by billionaire Paul Singer. “This is a great outcome for all parties involved,” said  Jesse Cohn, senior portfolio manager at Elliott. Mitel said it would not raise its offer for Polycom and waived its right to match Siris’ offer. “Polycom has a 25-year history serving the audio and video collaboration needs of the most demanding enterprises and is a globally recognized brand synonymous with innovation and the highest quality. We are very excited for the opportunity to partner with Polycom and its leadership team, as the Company fits well with Siris’ investment focus on mission-critical telecommunications businesses,” said Siris executive partner Dan Moloney. “The industry is transitioning to a hybrid on-premise and cloud-based Unified Communications environment. We believe that as an independent private company, Polycom would be best positioned to continue its heritage as a best-in-class communications solutions provider to more than 400,000 companies and institutions, channel partners, and the evolving Unified Communications ecosystem,” Moloney added. Polycom provides collaboration solutions for voice, video, and content sharing. The company offers video, voice, and content-management and content-sharing solutions, such as applications for mobile devices, browser-based video collaboration, cloud-delivered services, conference room systems, home/work office solutions, and telepresence, as well as industry-specific solutions, including specialized video carts and solutions for healthcare, education, and manufacturing. More than 400,000 companies and institutions worldwide use Polycom secure video, voice and content solutions. The company was founded in 1990. Siris Capital has secured equity capital from co-investors and debt financing from Macquarie Capital. Siris makes control investments in data, telecommunications, technology and technology-enabled business service companies in North America. Integral to Siris’ investment approach is its partnership with senior operating executives or executive partners, who work exclusively with Siris to identify, validate and operate investment opportunities. Siris was founded in 2011 by Frank Baker, Peter Berger and Jeffrey Hendren who have worked together as a team since 1998 having previously been partners at Ripplewood Holdings LLC and founders of the private equity group at SAC Capital Advisors LP. Siris has more than $2.4 billion of cumulative capital commitments. Moelis & Company, Evercore, and Macquarie Capital are acting as financial advisors to Siris Capital Group, and Sidley Austin LLP is acting as its legal counsel. Morgan Stanley is acting as financial advisor to Polycom, Wilson Sonsini Goodrich & Rosati is acting as external legal advisor to Polycom and Morrison & Foerster LLP is acting as legal advisor to Polycom’s independent directors. Mitel is a global market leader in enterprise and mobile communications powering more than 2 billion business connections and 2 billion mobile subscribers, serving more than 60 million business users in more than 100 countries, and 130 mobile service providers including 15 of the top 20 mobile carriers in the world. Mitel Networks Corporation was incorporated in 2001 and is headquartered in Ottawa, Canada.]]>