The following is an excerpt from Tiernan Ray | May 29, 2017 | Barrons.com |
Sometimes, companies wander from their true business and need to restructure. Sometimes, they wander from what their investors prefer, and they have to get back to basics.
The latter is the case for Mitel Networks (MITL), the 44-year-old*, Ottawa, Ontario Canada-based vendor of what’s known as “unified communications." The company in recent years had strayed from its value-stock profile but is now coming back into the fold.
I recently spoke to Richard McBee, who has been CEO of the company for a little over six years, and who was previously head of the enterprise technology group of Washington, D.C.-based Danaher (DHR).
McBee was excited about the company's latest product announcement, something called "CloudLink," which will let the billions of devices out in the field, the Internet of Things, communicate with companies' voice communications systems.
This new product announcement is the calm after the storm.
Mitel, which competes in "unified communications" with everyone from Cisco Systems (CSCO) to China’s Huawei to RingCentral (RNG) and 8x8 (EGHT), was traditionally in the business of PBX systems that manage calls in a company’s network, and desk phones.
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