Kanata, Canada--Feb. 12, 1998--Mitel Corp.has acquired all the shares in PlesseySemiconductors Limited and certain related entities from The General ElectricCompany, p.l.c. (GEC) for $225 million in cash.
Plessey, a subsidiary group of GEC, is an international semiconductor company focusedon the telecommunications, media, and personal computer markets. Mitel is aninternational telecommunications equipment company with a significant semiconductoroperation. The combined semiconductor business will rank Mitel among the top tennetworking and telecommunications semiconductor companies in the world, and it will have the ability to produce bipolar, CMOS, and optoelectronic components.
Investor Relations Department
Fax: (613) 592-4170
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