Mitel’s $430M acquisition of ShoreTel creates new UCaaS market leader

OTTAWA and SUNNYVALE, CA – Enterprise communications provider Mitel Networks is buying California-based ShoreTel in an all-cash deal valued at approximately $430 million, the companies said Thursday.Mitel said that the deal will move it to one of the top two players in the UCaaS (Unified Communications as a Service) market, creating a supplier with the scale and technical capabilities to provide customers with new cloud-based solutions and applications.The combined company, which will operate as Mitel, will be headquartered in Ottawa and led by Mitel’s CEO Rich McBee. Steve Spooner, Mitel’s chief financial officer, will also continue in that role. Together,...