Tag: Shoretel

Mitel buys rival and becomes super-company

Posted on July 28, 2017 by - News

1920s-telephone-advertComms vendor Mitel has acquired rival ShoreTel for $530 million to create a $1.3 billion company.

The deal, which consists of an all-cash transaction at a price of $7.50 per share, or a total equity value of around $530 million, represents a 28 percent premium on ShoreTel’s closing share price as of 26 July 2017. The deal is expected to close in the third quarter of this year.

Mitel claims the deal will make it the second largest unified communications as-a-service vendor in the market, doubling its revenues to $263 million.

The vendor also claims that the deal will make Mitel’s recurring revenue streams account for 39 percent of overall sales.

The combined entity will have around 3,200 channel partners and boast a global workforce of 4,200 employees.

Mitel CEO Rich McBee said: “This is a very natural combination that enables us to continue to consolidate the industry and take advantage of cost synergy opportunities while adding new technologies and significant cloud growth to our business. Together, Mitel and ShoreTel will be able to take customers to the cloud faster with full-featured, cloud-based communications and applications.”

Last year Mitel put in a $1.96 billion bid to buy videoconferencing vendor Polycom, but was snubbed months after when the firm was offered $2 billion by private equity firm Siris Capital.

FCS Global aims at suicide prevention

Posted on June 10, 2013 by - News

Console LogoUS IP phone systems provider ShoreTel signed a deal with Irish independent communications company FCS Global to provide hardware for its suicide prevention and support charity, Console.

Console offers suicide bereavement and prevention services and resources around Ireland and the UK. All of its free services are delivered by fully qualified and accredited counsellors, psychotherapists and psychologists, to those who have been affected by suicide.

Paul Kelly, CEO and founder of Console said the charity relies heavily on the kindness and support of local communities and businesses.

Under the deal, FCS will set up ShoreTel unified communications systems to help Console to streamline operations and aid the further development of its centres and 24 hour helpline service in Ireland and the UK.

Console will be expanded throughout the UK and FCS Global to support its growth with the ShoreTel UC systems.

Using the technology new offices can be easily added by Console to the ShoreTel platform without the need for specialist technical knowledge and will ensure all the centres can continue to collaborate effectively as the charity grows.