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Mitel consolidates UCaaS market with acquisition of ShoreTel

2017-07-27 14:11:00| Telecompaper Headlines

(Telecompaper) 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.

Tags: market acquisition consolidates shoretel

Category:Telecommunications

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