Mitel Networks (MITL) (NASDAQ:MITL) is a service company that provides integrated communication solutions for small-to-medium corporations (SME). Its products integrates voice, video, and data communications with business applications. The company heavily invests in Internet Protocol (IP) based communications to research new technologies, having over 1,600 patents and pending applications. 
Many companies have a data network which uses Internet Protocol, while separating its voice communication by using telephones. The use of the simple telephone network prevents it from integrating with other business applications. As a result, businesses are shifting to using IP-based communications. 
The company's initial public offering of stock filed on the NASDAQ exchange on 22 December 2009. The proposed offer price range is $18.00-$20.00. The company is offering 10.5 million shares and raising $200 million. 
For the nine months ended 31 January 2010, the company reported $484.0 million in total revenue, down 14% from $563.7 million in total revenue for the nine months ended 31 January 2009. Furthermore, the company had $15.2 million in net income for the nine months ended 31 January 2010, down 74% from $58.5 million in net income for the nine months ended 31 January 2009.