ShoreTel

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ShoreTel, Inc.
IndustryTelecommunications
FateAcquired by Mitel
Founded1996; 23 years ago (1996)
DefunctSeptember 25, 2017; 16 months ago (2017-09-25)
Headquarters
Key people
Don Joos, CEO
Mike Healy, CFO
Revenue$359 million (2016)
$12 million (2016)
Total assets$339 million (2016)
Total equity$202 million (2016)
Number of employees
1,158 (2016)
Websitewww.shoretel.com/ Edit this on Wikidata
Footnotes / references
[1]

ShoreTel, Inc. was a telecommunications vendor providing unified communications for business. In 2017, the company was acquired by Mitel.

History[edit]

In September 1996, ShoreTel was co-founded as Shoreline Teleworks by Edwin J. Basart and Mike Harrigan, both of whom were co-founders of Network Computing Devices.

In 1998, the company shipped its first products.

In April 2004, the company changed its name to ShoreTel.

On July 3, 2007, the company became a public company via an initial public offering.[2][3]

On October 21, 2010, the company announced the acquisition of Agito Networks for approximately $11.4 million.[4][5]

In 2012, the company acquired M5 Networks, based in New York City, for $146 million.[6]

In August 2013, Don Joos became president and chief executive. He had joined ShoreTel in April 2011 from Avaya.[7]

In August 2015, the company launched Connect Common UC Platform.[8][9]

In January 2016, The company acquired Corvisa to provide SIP trunking and additional third-party application integration.[10]

In February 2016, ShoreTel Connect Hybrid Sites was launched, a hybrid offering of on-premises and cloud services.[11]

In August 2016, the company began looking into a sale of the company.[12]

In September 2017, the company was acquired by Mitel for $530 million.[13][14][15][16]

References[edit]

  1. ^ "ShoreTel, Inc. 2016 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "ShoreTel IPO Priced at $9.50 a Share". CNBC. Associated Press. July 3, 2007.
  3. ^ "ShorelTel Inc (SHOR) IPO". NASDAQ. July 3, 2007.
  4. ^ Mosca, Stefanie (October 21, 2010). "ShoreTel Acquires Enterprise Mobility Leader Agito Networks for $11.4 M". TMC.
  5. ^ Burt, Jeffrey (October 21, 2010). "ShoreTel Buys Agito, Expands Mobile UC Capabilities". eWeek.
  6. ^ Burt, Jeffrey (February 1, 2012). "ShoreTel to Buy M5 Networks, Grow Cloud UC Capabilities". eWeek.
  7. ^ "ShoreTel Names Don Joos as President & CEO: ShoreTel SVP Steps Up to Top Role for Leading Unified Communications Provider" (Press release). August 8, 2013.
  8. ^ Burt, Jeffrey (August 19, 2015). "ShoreTel Rolls Out Connect Common UC Platform". eWeek.
  9. ^ Haranas, Mark (August 18, 2015). "ShoreTel Launches 'First To Market' Single Hybrid Platform For Unified Communications". CRN.
  10. ^ Lidstone, Rory (January 7, 2016). "ShoreTel's Corvisa Acquisition is Officially Complete". CloudComputing.
  11. ^ Burbick, Michelle (February 24, 2016). "Hybrid Made Easy". nojitter.
  12. ^ Burt, Jeffrey (August 5, 2016). "ShoreTel to Review Options for Its Future, Including a Possible Sale". eWeek.
  13. ^ Haranas, Mark (July 27, 2017). "Mitel Acquiring ShoreTel To Create A $1.3B UCaaS Powerhouse". CRN.
  14. ^ Haranas, Mark (September 25, 2017). "Mitel Completes $530 Million Acquisition Of ShoreTel". CRN.
  15. ^ Miller, Ron (July 27, 2017). "Mitel to buy ShoreTel for $430 million to create unified communications powerhouse". TechCrunch.
  16. ^ "Mitel Completes Acquisition of ShoreTel" (Press release). Globe Newswire. September 25, 2017.