 | |
| Industry | Telecommunications |
|---|---|
| Founded | September 1996 |
| Defunct | September 25, 2017 |
| Fate | Acquired by Mitel |
| 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) |
| Footnotes /references [1] | |
ShoreTel, Inc. was a telecommunications vendor providing unified communications for business. In 2017, the company was acquired by Mitel.
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]