SUNNYVALE, Calif.--(BUSINESS WIRE)--First graph, first sentence, date of completion of M5 Networks acquisition should read: March 23, 2012 (sted March 22, 2012).
The corrected release reads:
SHORETEL COMPLETES ACQUISITION OF M5 NETWORKS
Addition of Hosted Unified Communications Solution Positions ShoreTel to Lead in the Emerging Cloud Services Market
ShoreTel® (NASDAQ:SHOR), the leading provider of brilliantly simple premise and cloud-based business phone system and communication solutions with fully integrated unified communications (UC) and contact center capabilities, today announced it has completed its acquisition of M5 Networks as of March 23, 2012. With the addition of M5’s hosted Unified Communications to its portfolio, ShoreTel is in a unique position to offer both on-premise and hosted VoIP and UC solutions. This will enable ShoreTel to attract new customers, open new channels, and increase revenue streams at a time when companies are increasingly considering cloud-based services.
“Purchasing an established provider of hosted communications and contact center services is a game-changing move that promises to differentiate ShoreTel significantly from its traditional competitors in the market for UC and contact center solutions,” said analyst Brian Riggs of Current Analysis.
ShoreTel is at an advantage over competitors in the emerging hosted VoIP and UC market by acquiring M5’s established hosted business model and expertise. This will accelerate ShoreTel’s ability to enter the cloud market and add value to customers that are looking to deploy IP communications with all the benefits a hosted model provides. For customers that are committed to premise-based solutions, ShoreTel continues to offer IP telephony and UC solutions with the lowest TCO and highest customer satisfaction in the industry. And for companies that are still evaluating whether a hosted or on-premise solution is best for their needs, ShoreTel is the only vendor able to give unbiased advice to help them find the ideal solution.
“When I joined the company just over one year ago, I outlined a strategic plan that included three priorities: continuing to grow market share in our core premise-based business both domestically and internationally, launching ShoreTel Mobility for integrating smartphones and tablets with IP PBX systems, and introducing a cloud-based hosted solution. Now, with M5 as our hosted VoIP and UC solution, we are successfully delivering against these strategic imperatives. ShoreTel is in an excellent position to deliver unmatched value to our customers,” said Peter Blackmore, CEO of ShoreTel.
Effective today, M5 is the ShoreTel Cloud Division, based in New York, led by Dan Hoffman as president and general manager.
“We pioneered hosted VoIP and UC 12 years ago and are proud of the successful track record we’ve achieved with more than 2,000 customers in the U.S.,” said Hoffman. “Now, as part of ShoreTel, we’ll have the chance to build a global brand known for an exceptional customer experience in an industry that lacks one. This will fortify our leadership position in the hosted VoIP and UC marketplace and help take ShoreTel’s overall business to new heights.”
Related Links & Conversation
About ShoreTel, Inc.
ShoreTel, Inc. (NASDAQ:SHOR) brings unmatched flexibility, choice and value to brilliantly simple business phones systems and unified communications (UC). With its award-winning premise-based IP phone system with integrated unified communications, contact center capabilities, and its proven hosted VoIP services, organizations of all sizes can select the best option for their needs. ShoreTel’s ongoing mission is to eliminate costly complexity and give customers the 24/7 freedom to leverage rich voice, video, data and mobile unified communications capabilities they need. ShoreTel is based in Sunnyvale, California, and has regional offices in Austin, Texas; New York, New York; Maidenhead, United Kingdom; Sydney, Australia; and Singapore. For more information, visit www.shoretel.com.
Legal Notice Regarding Forward-Looking Statements
ShoreTel assumes no obligation to update the forward-looking statements included in this release. This release contains forward-looking statements within the meaning of the “safe harbor” provisions of the federal securities laws, including, without limitation, statements by Peter Blackmore relating to the expected benefits of the proposed acquisition, market potential and statements regarding the proposed operation of M5 after closing. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. The risks and uncertainties include our ability to integrate M5 Networks, our ability to retain M5 Networks’ customer base, potential unknown liabilities, security breaches or outages which may negatively affect our reputation, managing geographically-dispersed operations, increased risk of intellectual property litigation by entering into new markets, uncertainty as to ShoreTel’s ability to retain and motivate key personnel from the acquired company, increased competition by entering into new markets, the potential for litigation in our industry, and other risk factors set forth in ShoreTel’s Form 10-K for the year ended June 30, 2011, as updated by our Quarterly Reports on Form 10-Q on a quarterly basis.