Tech Peek Base

Canadian telecom company Mitel Networks Corporation yesterday filed for an IPO of up to $230 million. The company, which provides integrated communication services primarily to SMBs, said it plans to use proceeds from the offering to reduce debts by repaying its revolving credit and loans, and for working capital and general corporate purposes, including potential acquisitions.

Mitel’s IPO would be the largest ever initial public offering by an Ottawa-based company, according to Ottawa Citizen. No pricing terms were disclosed.