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Broadband

Mitel consolidates UCaaS market with acquisition of ShoreTel

Thursday 27 July 2017 | 14:11 CET | News
Mitel has agreed to buy ShoreTel for USD 7.50 per share in cash, translating into a total equity value of USD 530 million and a total enterprise value of USD 430 million. The purchase price represents a 28 percent premium to ShoreTel's closing share price on 26 July, before the offer was made. Mitel said the acquisition will accelerate its move to the high-growth Unified Communications as a Service market, propelling it into second place worldwide, and more than doubling Mitel UCaaS revenue to USD 263 million.

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Categories: Fixed
Companies: Mitel / ShoreTel
Countries: World
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