ShoreTel

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

ShoreTel, Inc.
IndustryTelecommunications
FateAcquired by Mitel
Founded1996 (1996)
DefunctSeptember 25, 2017 (2017-09-25)
Headquarters
Sunnyvale, California
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)
Footnotes / references
[1]

History

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
  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.
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