STOCKHOLM, SWEDEN- July 20, 2021- Mitel, a global leader in business communications, completed today the sale of its Telepo division to Brussels-based, Destiny NV, Europe’s largest cloud communication and services platform provider. Telepo, based in Stockholm, Sweden, is a leading cloud software provider offering Unified Communications-as-a-Service (‘UCaaS’) and Fixed Mobile Convergence (‘FMC’) solutions to Service Providers. Following last month’s acquisition of Sweden-based Soluno BC, the acquisition of Telepo will further solidify Destiny, backed by Apax France, as a market leader within the European cloud communication space.
Founded in 2004, Telepo offers UCaaS and FMC solutions to Service Providers throughout Europe, Asia and Africa, growing to serve over 2 million end users. Telepo was designed from initial inception as a complete end-to-end, multi-tenant solution with fixed mobile convergence and ease of use as the top priorities. Telepo differentiates in the market as a mobile-centric cloud platform, purpose-built for mobile operators and Service Providers to target SMEs and enterprises with innovative cloud solutions and offering a significant number of API integrations that enable maximum flexibility.
"This is an important and transformational step for Telepo and its Service Provider partners, and I could not be more excited with the synergies between our companies. This marks the start of an incredible new chapter in our journey as a win-win for both companies. Destiny will be able to standardize on Telepo as own IP for the group-wide platform to drive consistency and future growth. The Telepo team will benefit from Destiny's strategy and resources to accelerate innovation and enhance their offering portfolio directly benefiting our Service Provider partners to compete and win in their markets. I am delighted with this acquisition and the benefits it brings to all the stakeholders in our ecosystem. I very much look forward to working with Daan and his team, and I know we will make a winning combination", said Rami Houbby, General Manager at Telepo.
The combined Destiny group will comprise of more than 600 employees in six countries (Belgium, Netherlands, France, Sweden, Germany, and UK), and is expected to generate a turnover of €170m in 2021.
Q Advisors, a leading global TMT investment banking boutique, acted as the exclusive financial advisor to Mitel in connection with this transaction.
We chose Q Advisors to represent Mitel in the sale of our Telepo subsidiary, as the firm has a unique ability to find the appropriate buyer in the global cloud communications space. This is our second successful transaction with Q Advisors, and we continue to be impressed by the consistent senior-level attention their team provides throughout the process. They have been a true partner for Mitel.Graham Bevington, EVP, Transformation Office, Mitel