ShoreTel

ShoreTel, Inc.
Public
Traded as NASDAQ: SHOR
Industry Telecommunications
Founded 1996 (1996)
Headquarters Sunnyvale, California, United States
Key people
 Don Joos, CEO
Mike Healy, CFO
Bharath Oruganti, SVP
Eugenia Corrales, SVP
Revenue approx. $300 million
Number of employees
 approx. 975 (2013)
Website www.shoretel.com

ShoreTel, Inc. is a telecommunications vendor providing unified communications for business.

Its headquarters are in Sunnyvale, California with regional headquarters in the United Kingdom, Germany, Spain, India and Australia.

ShoreTel was co-founded in September 1996 as Shoreline Communications by Edwin J. Basart and Mike Harrigan, both of whom were co-founders of Network Computing Devices. First products were shipped in 1998. The company changed its name to ShoreTel in April 2004 and was registered in Delaware on June 22, 2007.

Their initial public offering on July 3, 2007, raised about $75 million, as they were listed with the symbol SHOR on NASDAQ.[1]

On October 21, 2010 ShoreTel announced the acquisition of Santa Clara, California based enterprise mobility provider, Agito Networks for approximately $11.4 million.[2][3]

On February 1, 2012 ShoreTel announced they were in the process of purchasing M5 Networks (based in New York City) for $146 million.[4] The acquisition was completed in March 2012. M5 services were branded as ShoreTel Sky within the cloud division of ShoreTel. Since the acquisition, new services were introduced, including integrated instant messaging and conferencing.

In August 2013, Don Joos became president and chief executive. He had joined ShoreTel in April 2011 from Avaya.[5]

As of June 30, 2014 the company had $56.1 million in cash, cash equivalents and short-term investment and no outstanding debt.[6]

ShoreTel’s latest product, Connect Common UC Platform, was launched in August 2015.[7]

The company acquired Corvisa in January 2016, in order to provide SIP trunking and additional third-party application integration.[8]

ShoreTel Connect Hybrid Sites was made available in February 2016, a hybrid offering of on-premise and cloud services.[9]

As of March 31, 2016, the company had $100.0 million in cash, cash equivalents and short-term investments and no outstanding debt.[10]

References

  1. ↑ "ShorelTel Inc (SHOR) IPO". NASDAQ. July 3, 2007. Retrieved August 28, 2013.
  2. ↑ Stefanie Mosca (October 21, 2010). "ShoreTel Acquires Enterprise Mobility Leader Agito Networks for $11.4 M". TMCnet. tmcnet. Retrieved August 28, 2013.
  3. ↑ Jeffrey Burt (October 21, 2010). "ShoreTel Buys Agito, Expands Mobile UC Capabilities". eWeek. Retrieved August 28, 2013.
  4. ↑ Jeffrey Burt (February 1, 2012). "ShoreTel to Buy M5 Networks, Grow Cloud UC Capabilities". eWeek. Retrieved August 28, 2013.
  5. ↑ "ShoreTel Names Don Joos as President & CEO: ShoreTel SVP Steps Up to Top Role for Leading Unified Communications Provider". Press release. August 8, 2013. Retrieved August 28, 2013.
  6. ↑ "ShoreTel Reports Financial Results for Fourth Quarter and Fiscal Year 2014". Aug 7, 2014. Retrieved June 19, 2015.
  7. ↑ Jeffrey Burt (August 19, 2015). "ShoreTel Rolls Out Connect Common UC Platform". eWeek. Retrieved June 16, 2016.
  8. ↑ Rory Lidstone (January 7, 2016). "ShoreTel's Corvisa Acquisition is Officially Complete". CloudComputing. Retrieved June 16, 2016.
  9. ↑ Michelle Burbick (February 24, 2016). "Hybrid Made Easy". nojitter. Retrieved June 16, 2016.
  10. ↑ "ShoreTel Reports Financial Results for Third Quarter Fiscal Year 2016". April 28, 2016. Retrieved June 16, 2016.
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