ShoreTel explained

ShoreTel, Inc.
Fate:	Acquired by Mitel
Key People:	Don Joos, CEO Mike Healy, CFO
Industry:	Telecommunications
Revenue:	$359 million (2016)
Net Income:	$12 million (2016)
Assets:	$339 million (2016)
Equity:	$202 million (2016)
Num Employees:	1,158 (2016)
Footnotes:	^[1]

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

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]}

Notes and References

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