ShoreTel

Last updated
ShoreTel, Inc.
Industry Telecommunications
Fate Acquired by Mitel
Founded 1996;22 years ago (1996)
Defunct September 25, 2017;12 months ago (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)
Website www.shoretel.com/   Blue pencil.svg
Footnotes /references
[1]

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

Unified communications (UC) is a business and marketing concept describing the integration of enterprise communication services such as instant messaging (chat), presence information, voice, mobility features, audio, web & video conferencing, fixed-mobile convergence (FMC), desktop sharing, data sharing, call control and speech recognition with non-real-time communication services such as unified messaging. UC is not necessarily a single product, but a set of products that provides a consistent unified user interface and user experience across multiple devices and media types.

Mitel Canadian telecommunications company

Mitel Networks Corporation is a telecommunications company providing unified communications solutions for business. The company previously produced TDM PBX systems and applications, but after a change in ownership in 2001, it now focuses almost entirely on Voice-over-IP (VoIP) products. Mitel is headquartered in Ottawa, Ontario, Canada, with offices, partners and resellers worldwide.

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.

Network Computing Devices

Network Computing Devices (NCD) was a company founded in 1987 to produce a new class of products now known as a "thin client". It was founded in Mountain View, CA, and when it closed it was headquartered in Beaverton, Oregon.

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]

Public company Company that offers its securities for sale to the general public

A public company, publicly traded company, publicly held company, publicly listed company, or public limited company is a corporation whose ownership is dispersed among the general public in many shares of stock which are freely traded on a stock exchange or in over the counter markets. In some jurisdictions, public companies over a certain size must be listed on an exchange. A public company can be listed or unlisted.

Initial public offering (IPO) or stock market launch is a type of public offering in which shares of a company are sold to institutional investors and usually also retail (individual) investors; an IPO is underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. Through this process, colloquially known as floating, or going public, a privately held company is transformed into a public company. Initial public offerings can be used: to raise new equity capital for the company concerned; to monetize the investments of private shareholders such as company founders or private equity investors; and to enable easy trading of existing holdings or future capital raising by becoming publicly traded enterprises.

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]

Avaya American IT company

Avaya is an American multinational technology company headquartered in Santa Clara, California, that specializes in business communications, specifically unified communications (UC), contact center (CC), and services. Serving organizations at 220,000 customer locations worldwide,[6] Avaya is the largest pure-play UC and CC company, ranking No. 1 in CC and No. 2 in UC and collaboration. The company had FY17 revenues of $3.3 billion, 78% of which was attributed to software and services.

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]

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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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