Mitel Networks is a telecommunications company providing unified communications solutions for business. The company previously produced TDM PBX systems and applications but after a change in ownership in 2001 now focuses almost entirely on Voice-over-IP (VoIP) products. Mitel is headquartered in Ottawa, Ontario, the capital city of Canada, with offices, partners and resellers worldwide. Michael Cowpland and Terry Matthews founded Mitel in 1972 (officially on June 8, 1972). Conventionally, its name is regarded as a combination of the founders’ first names and their first product - MIke and TErrys Lawnmowers. Cowpland is quoted as stating that it stands for MIke and Terrys Electronics, whereas Matthews confirmed the lawnmower acronym during an interview on BBC Radio 4s "The Bottom Line" in May 2011. The pair formed the corporation with the blessing of their employer, Bell Northern Research, based on the original premise it stood for MIke and TErry Lawn mowers and in order to protect their intellectual property rights of tone to pulse converter design from their employer who otherwise would have legal ownership rights. Their first shipment of three lawn mowers was lost in shipping, so they quickly adjusted to produce a telephony tone receiver product (a tone-to-pulse converter for central office use based on Cowplands Ph.D. thesis). Cowpland has also stated that the lawnmowers were not suited to Canadian lawns.