ShoreTel, Inc. is a telecommunications vendor providing unified communications for business.
ShoreTel was co-founded in September 1996 as Shoreline Communications by Edwin J. Basart and Mike Harrigan, both of whom were co-founders of Network Computing Devices. First products were shipped in 1998. The company changed its name to ShoreTel in April 2004 and was registered in Delaware on June 22, 2007.
On February 1, 2012 ShoreTel announced they were in the process of purchasing M5 Networks (based in New York City) for $146 million. The acquisition was completed in March 2012. M5 services were branded as ShoreTel Sky within the cloud division of ShoreTel. Since the acquisition, new services were introduced, including integrated instant messaging and conferencing.
As of June 30, 2014 the company had $56.1 million in cash, cash equivalents and short-term investment and no outstanding debt.
ShoreTel’s latest product, Connect Common UC Platform, was launched in August 2015.
The company acquired Corvisa in January 2016, in order to provide SIP trunking and additional third-party application integration.
ShoreTel Connect Hybrid Sites was made available in February 2016, a hybrid offering of on-premise and cloud services.
As of March 31, 2016, the company had $100.0 million in cash, cash equivalents and short-term investments and no outstanding debt.