Mitel tries again to buy ShoreTel in $430 mln deal
Mitel Networks Corp (TSX: MNW) (Nasdaq: MITL) has agreed to acquire ShoreTel Inc (Nasdaq: SHOR), a U.S. provider of business communication solutions. The cash deal reflects an equity value of about US$530 million and an enterprise value of about US$430 million. Ottawa-based Mitel said the acquisition, expected to close in the third quarter, will create the second-largest player in the unified-communications-as-a-service market. Mitel, a portfolio investment of Francisco Partners and Wesley Clover International, tried two years ago to buy ShoreTel, but withdrew its bid.
27 July 2017•6 mins read
