Terry Matthews

Early life and education

Terry Matthews was born in Newport, South Wales, at the Lydia Beynon Maternity Hospital, a site he would later incorporate into his Celtic Manor Resort. He grew up in the nearby town of Newbridge, Caerphilly, which later inspired the name for one of his most successful companies. Matthews pursued higher education at Swansea University, where he studied electronics, graduating with a bachelor's degree in 1969. His technical education provided the foundation for his future career in the rapidly evolving field of telecommunications and microelectronics, a field he would help shape from his adopted home in Canada after first gaining experience at British Telecom's research lab at Martlesham Heath.

Career beginnings and the founding of Mitel

After completing an apprenticeship at British Telecom's research laboratory at Martlesham Heath, Matthews emigrated to Canada to join MicroSystems International, a semiconductor operation affiliated with Northern Telecom, in Ottawa. In 1972, he co-founded his first company, Mitel, with fellow British expatriate Michael Cowpland. The company's name was originally a playful contraction of 'Mike and Terry Lawnmowers', referencing a failed initial venture to import electric lawnmowers from the UK which ended when the shipment was lost and then arrived during a Canadian winter. Matthews later cited this logistical failure as teaching him a crucial lesson about business timing, noting that you cannot sell lawnmowers when the ground is covered in snow.

Mitel pivoted to become a technology consultancy operating from a home office, serving clients around Ottawa's emerging high-tech district including the National Research Council, the Communications Research Centre, and pioneering startups like SHL Systemhouse and Quasar Systems. Securing a one million dollar bank loan alongside personal savings and investment from angel investors like Kent Plumley, Matthews and Cowpland developed a telephony DTMF tone receiver based on Cowpland's PhD thesis. This product was a major technological and commercial breakthrough, sold at a fraction of competitors' costs while yielding returns of 1000 percent. The company further expanded by acquiring the Silek semiconductor foundry in Bromont, Quebec, becoming an integrated chip manufacturer.

The duo then realized that new microprocessor technology would revolutionize the market for small private branch exchange systems. They launched the SX200 PBX, which was cheaper to purchase, quicker to install, and far more functional than existing options, propelling Mitel to global prominence in telecom equipment. The company's success led to a public listing on the New York Stock Exchange in 1981. British Telecom acquired a controlling interest in Mitel in 1985, after which Cowpland left to form the company that became Corel, and Matthews began planning his next major venture.

Newbridge Networks and a landmark exit

Matthews founded Newbridge Networks in 1986, driving it to become a world leader in the data networking industry, manufacturing data communications products with a focus on Asynchronous Transfer Mode devices and routers. By the fiscal year 1999, the company employed more than 6,500 people and reported annual revenue of 1.8 billion dollars. In 2000, the French telecommunications giant Alcatel acquired Newbridge Networks for 7.1 billion dollars in a transaction that marked one of the largest Canadian tech exits of its time. This transaction made Matthews the largest single shareholder in Alcatel and confirmed his billionaire status, with his personal stake valued at over one billion dollars, demonstrating his ability to scale a company from a startup to a multi-billion dollar global enterprise.

Return to Mitel and expansion through acquisition

In 2000, concurrent with the Newbridge sale, Matthews reacquired the Mitel PBX business and company name, taking it private. He invested heavily to transform it, committing 600 million dollars by 2006 to turn Mitel into a broadband communications company focused on enterprise Voice over IP technology. Under his renewed leadership, Mitel spun off its manufacturing business as BreconRidge and pursued an aggressive acquisition strategy to expand its product portfolio and market reach. The company's acquisition timeline under Matthews's renewed ownership demonstrates a consistent growth strategy aimed at consolidating the communications equipment sector.

• Mitel acquired Intertel in April 2007.
• The company returned to public markets with an initial public offering in 2010.
• In November 2013, Mitel purchased Aastra Technologies.
• Mitel acquired Mavenir Systems in March 2015.
• An attempt to purchase Polycom in April 2016 fell through.
• In July 2017, Mitel announced a deal to buy ShoreTel for 430 million dollars, growing the company to 4,200 employees.
• In April 2018, Mitel agreed to be acquired by an investor group led by Searchlight Capital Partners.

In 2000, Sir Terry Matthews reacquired the Mitel PBX business and company name, taking it private. He invested heavily, putting $600 million into Mitel by 2006 to turn it into a broadband communications company. The company made significant investments in enterprise Voice over IP telephony technology. Mitel went public again in 2010 and announced several major purchases, including Aastra Technologies in 2013 and Mavenir Systems in 2015. The company announced the purchase of ShoreTel for $430 million in July 2017, increasing its size to 4,200 employees. On 24 April 2018, Mitel announced it would be bought by an investor group led by Searchlight Capital Partners.

Wesley Clover and a portfolio of technology ventures

Matthews is the founder and chairman of Wesley Clover, an international investment group headquartered in Ottawa with offices in the United States, United Kingdom, India, China, and Russia. The group focuses on information and communication technologies, digital media, and real estate, acting as the primary vehicle for his later-stage investment activities. Through Wesley Clover and other vehicles, Matthews has founded, funded, or served on the boards of a vast portfolio of technology companies, demonstrating a consistent pattern of identifying and nurturing innovation in the telecom and software sectors. His notable investments and ventures include several companies that achieved successful exits, contributing to the growth of Ottawa's technology cluster and providing significant returns.

• March Networks, an IP video solutions provider, completed its IPO on 27 April 2005, the first successful high-tech IPO in Ottawa since 1999.
• Bridgewater Systems, a mobile service management software company, was acquired by Amdocs in June 2011 for 215 million dollars.
• Ubiquity Software, a developer of SIP/IMS platforms, was acquired by Avaya in February 2007 for about 150 million US dollars.
• Convedia, a maker of VoIP media servers, was acquired by RadiSys in 2006 for 105 million US dollars.
• Newport Networks, a maker of session border controllers, was delisted in March 2009 and subsequently liquidated.

Other significant holdings include KRP Properties, which manages land and buildings in Ottawa's Kanata North Business Park. Matthews also co-founded the venture capital firm Celtic House International Corporation in 1994 with Roger Maggs, though it was restructured into an independent limited partnership in 2002. In 2009, he co-founded the non-profit Alacrity incubator and accelerator program with his son Owen and Simon Gibson. He continues to serve on the boards of companies including Solace and chairs CounterPath Corporation and Benbria Corporation.

Investments and development in Wales

Matthews maintains deep ties to his birthplace, investing significantly in Welsh tourism, infrastructure, and economic development. His most prominent project is the Celtic Manor Resort in Newport, a five-star hotel and golf complex which he purchased in 1980. He invested 100 million pounds into the project, beginning with renovating the 19th century manor house that had been his birthplace as a maternity hospital. In 1991, plans were unveiled to develop two new golf courses and a convention centre between the manor and the River Usk, with work on the 'Roman Road' course starting in 1992 and the 'Coldra Woods' course beginning in 1994 alongside a 10 million pound clubhouse hotel.

The resort was chosen to host the 2010 Ryder Cup golf tournament and the 2014 NATO summit, events that brought international attention to Wales. For 15 years, it also hosted the ISPS Handa Wales Open golf tournament. The resort earned Hotel of the Year in 2002 and won two European Design Awards in 2001 for its interior design and spa. In January 2016, Matthews expanded the resort's collection by purchasing and renovating the former Hilton Hotel in Newport, rebranding it as the Coldra Court Hotel. Beyond hospitality, Matthews was appointed chairman of the Swansea Bay City Region Board in September 2014, a role focused on driving economic development in south-west Wales, including support for the proposed Swansea Tidal Lagoon renewable energy project.

Philanthropy and the Wesley Clover Foundation

Matthews channels his success into philanthropic efforts primarily through the Wesley Clover Foundation, a not-for-profit corporation supporting entrepreneurship, healthcare, education, and community initiatives. A flagship project of the foundation is Wesley Clover Parks in Ottawa, created by leasing and redeveloping the properties formerly known as the Nepean National Equestrian Park and the Ottawa Municipal Campground. This facility hosts equestrian events, camping, and community activities, repurposing public land for charitable and recreational use. He also hosts an annual charity gala called Lumière, which has raised over one million dollars for various charitable causes, demonstrating a sustained commitment to fundraising.

Sir Terry Matthews founded the Wesley Clover Foundation, a not-for-profit philanthropic corporation. The foundation supports entrepreneurship, healthcare, education, and community initiatives. In 2011, Matthews was appointed patron of the Cancer Stem Cell Research Institute at Cardiff University. In December 2017, he was appointed an Officer of the Order of Canada for his achievements as a high-tech entrepreneur and investor and for his contributions to community development through charitable endeavours. He was invested by the Governor General of Canada in November 2018.

Honours and recognition

Terry Matthews has received numerous honours from both the United Kingdom and Canada, reflecting his dual heritage and impact on both nations. His British honours began with his appointment as an Officer of the Order of the British Empire in the 1994 Birthday Honours for services to the communications industry. He was elected a Fellow of the Royal Academy of Engineering in 1998, recognizing his engineering achievements. His most prominent British honour came on 16 June 2001 when he was made a Knight Bachelor in the Queen's Birthday Honours for services to industry and to Wales, an honour that acknowledges his business success and his contributions to his native country.

In Canada, he was appointed an Officer of the Order of Canada in December 2017 as part of the 2018 Canadian honours list, with the citation honouring his achievements as a high-tech entrepreneur and investor and his contributions to community development through charitable endeavours. He was formally invested by the Governor General in November 2018. Matthews has also been recognized academically with honorary doctorates from the University of Wales, Carleton University, and the University of Bath in 2006. In 2026, the City of Ottawa awarded him the key to the city, a civic honour acknowledging his long-standing impact on the region's economy and community.

Personal life and family

Matthews's family is actively involved in his business and philanthropic ventures, continuing the entrepreneurial tradition across different sectors. His daughter, Karen Matthews, serves as the executive director at Wesley Clover Parks, managing the foundation's major recreational facility in Ottawa. His son, Owen Matthews, lives in Victoria, British Columbia, and holds the roles of general partner at Wesley Clover and founder and chairman of the Alacrity Foundation, which he helped establish in 2009. His youngest son, Trevor Matthews, has pursued a career in the arts as an actor and is also the founder and CEO of Brookstreet Pictures, a film production company. This engagement of his children spans technology investment, philanthropic management, and creative industries, reflecting the diverse interests and legacy of the Matthews family.

Questions about Terry Matthews

What companies did Terry Matthews found?

Terry Matthews is best known as the co-founder of Mitel in 1972 and the founder of Newbridge Networks in 1986. Beyond these two flagship companies, he has founded or provided early funding for over 100 high-tech communications firms. Other notable companies he helped launch include March Networks, Bridgewater Systems, Ubiquity Software, and Convedia. He is also the founder and chairman of the investment group Wesley Clover and co-founded the venture firm Celtic House International and the Alacrity Foundation incubator.

How did Terry Matthews make his money?

Matthews built his fortune primarily through founding and selling technology companies. His first major success was Mitel, which went public in 1981 and was later partly sold to British Telecom. His largest financial gain came from Newbridge Networks, which he sold to Alcatel in 2000 for 7.1 billion dollars. His personal stake was valued at over one billion dollars. Subsequent investments and exits from companies like Bridgewater Systems, sold for 215 million dollars, and March Networks, along with his real estate holdings such as the Celtic Manor Resort, have further contributed to his wealth, making him Wales's first billionaire.

What is Terry Matthews's connection to Wales?

Matthews was born in Newport, South Wales, and maintains strong business and personal ties to the country. His most significant investment there is the Celtic Manor Resort, a five-star hotel and golf complex he purchased in 1980 and developed with a 100 million pound investment, which hosted the 2010 Ryder Cup and the 2014 NATO summit. He also serves as chairman of the Swansea Bay City Region Board, promoting economic development and backing projects like the Swansea Tidal Lagoon. He has purchased additional hotels like the Coldra Court Hotel to expand his resort collection in Newport.

What honours has Terry Matthews received?

Matthews holds honours from both the United Kingdom and Canada. He was knighted in 2001, becoming a Knight Bachelor for services to industry and Wales. Earlier, he was appointed an Officer of the Order of the British Empire in 1994. In Canada, he was appointed an Officer of the Order of Canada in 2017 for his entrepreneurial and charitable work, invested in 2018. He is also a Fellow of the Royal Academy of Engineering, has received honorary doctorates from several universities, and was awarded the key to the city of Ottawa in 2026.

What is the Wesley Clover Foundation?

The Wesley Clover Foundation is a not-for-profit philanthropic corporation founded by Terry Matthews. It supports initiatives in entrepreneurship, healthcare, education, and community development. A major project is Wesley Clover Parks in Ottawa, a multi-use recreational facility created on leased municipal land formerly used as an equestrian park and campground. The foundation also benefits from the annual Lumière gala, which has raised over one million dollars for charity. Through this foundation, Matthews channels a portion of his wealth back into community-focused projects in Canada and beyond.

Where does Terry Matthews live and operate his businesses?

While Terry Matthews maintains a global presence due to his business interests, his primary operational base and long-time home is in the Ottawa region of Ontario, Canada. It was in Ottawa where he launched Mitel and Newbridge Networks, and where his investment firm Wesley Clover is headquartered. He also spends considerable time in Wales, particularly at the Celtic Manor Resort in Newport, overseeing his developments there and fulfilling his duties as chairman of the Swansea Bay City Region Board. His business activities are truly transatlantic, with significant operations in both countries.

Sources and further reading

• Terry Matthews (Wikipedia)
• Matthews, Terence | About us (uottawa.ca)
• Leadership Team (wesleyclover.com)
• Sir Terry Matthews, Industrialist, entrepreneur and investor (chipsmonthcanada.ca)

Checked by the Yadude Books desk. Last updated 2026-11-04.