Mitel Acquires ShoreTel
In September, 2017 Mitel announced that they will be acquiring Shoretel in an effort to compete with cloud based competitors including RingCentral, 8x8 and Vonage. All existing Shoretel stock will be bought by Mitel at $7.50 per share and represents a total equity value of $530 million.
The acquisition will make Mitel the #2 leader in Unified Communications as a Service (UCaaS) and helps build a path that will let their existing customer base move into cloud based solutions at an accelerated pace. As for current Shoretel customers you can anticipate that the software platform will be changed, but not replaced so that their is an easy and simplified transition in solutions.
Mitel is a leading brand in business communication systems that helps serve over 60 million businesses in over 100 different countries. Offering businesses and service providers a platform to connect, collaborate and provide innovative services to their customers.