Mitel IPO Pondered

Mitel chairman and billionaire technology entrepreneur Terry Matthews indicated yesterday that a prospective $150-million IPO of Mitel is more likely now that market sentiment appears to be taking a turn for the better.

Said Matthews in connection with a possible IPO by his IP PBX and VoIP-systems company:

The reason for the delay has been clearly stated. All you have to do is look at May/June of this year and 50, 60, 70 IPO attempts were pulled. And not only that, about the same number did go IPO and they ended up with the price dropping after they went public . . . .

. . . .until there’s a change in the sentiment, and it may be starting now. Certainly the technology stocks are beginning to do a little better."

Matthews also said Canadian technology companies — of which he has launched more than a few — need to work hard, be persistent, and pursue partnerships to gain entry into foreign markets if they are to avoid being acquired and becoming "branch plants."