RICHMOND, Va., July 31, 2017 (GLOBE NEWSWIRE) -- IPC is excited to announce to its customers that Mitel has entered into a definitive agreement to acquire ShoreTel. Under the agreement, announced by the two companies today, Mitel will acquire 100 percent of the outstanding shares of ShoreTel common stock in an all-cash transaction at a price of $7.50 per share. The combined entity will be headquartered in Ottawa, Canada, and will operate as Mitel.
The transaction is expected to help Mitel accelerate its growth through strategic investment in cloud-based Unified-Communications-as-a-Service (UCaaS) technologies. ShoreTel’s Connect platform, which provides a seamless user experience across cloud and on-premises deployment models, is the ideal fit for Mitel’s strategy.
“The two companies have complementary technology platforms, and a shared focused on cloud-based solutions and next-generation applications,” said Jeff Andrews, Executive Vice President, IPC. “Together, they will become the No. 2 player in the UCaaS market, representing 16 percent of the worldwide installed base. We believe that the combined strength of ShoreTel and Mitel will bring tremendous value to our customers.”
On closing of the proposed transaction, the combined company will have approximately 4,200 employees and 3,200 channel partners. Mitel has a proven track record of success integrating acquired companies and driving substantial synergies through consolidation and supply chain efficiencies. Both Mitel and ShoreTel are committed to providing continued support and an attractive technology roadmap for both customers and partners.
“We look forward to the opportunity of becoming a Mitel partner, and offering an expanded, industry-leading portfolio of communications and collaboration solutions backed by IPC’s expertise,” Andrews said. “ShoreTel’s solutions will strengthen Mitel’s ability to provide enterprise-class solutions, whether cloud-based, on-premises or in mixed deployments. IPC’s experienced team stands ready to deliver these solutions to customers.”
About IPC
IPC delivers IT solutions that help organizations nationwide become more agile, productive and profitable. IPC specializes in award-winning IP communications, mobility and other key business-enabling technologies. IPC also delivers managed services, supplemental staffing and other services that maximize the efficiency of its customers’ operations. Founded in 1981, IPC is headquartered in Richmond, Va., and serves customers across the U.S. and around the world. IPC is a member of ShoreTel’s Champion Partner Circle of Excellence and has received numerous awards. For more information, call 1.877.9.IPCTEK or visit http://www.ipctech.com.