Mitel has announced that its acquisition of ShoreTel is finally complete. The company has claimed the second market share position when it comes to UCaaS on a global level.
Mitel President and Chief Executive Officer Rich McBee mentioned the effect that the digital transformation has had on business models in every industry worldwide. According to McBee, moving to a cloud communications and collaboration system is the first step that businesses need to take as part of the digital transformation journey. Commenting on the new partnership, McBee believes that Mitel and ShoreTel are now better equipped to help businesses migrate to the cloud.
Mitel’s vision of providing customers with a way to communicate and collaborate still remains strong. The company will still be supporting its current line of products, and should a new one be announced, the partners and customers will be notified.
The company first announced the acquisition of ShoreTel shares on 22nd September 2017. In total, there were 62,046,693 shares in the offer – approximately 89.3% of the outstanding shares. All of the conditions have been met and Mitel has successfully completed the payment. Each share was converted to $7.50 in cash; no interest and no taxes apply. Mitel now fully owns ShoreTel.
Frost and Sullivan Vice President and Senior Fellow, Connected Work and Digital Experience Elka Popova stated that the digital transformation process of moving the apps to the cloud, connecting remote workers and implementing the collaboration tools can be daunting, but she believes that Mitel is now better equipped to help businesses with these kinds of problems.