A screen capture of M5 Networks' website
(WEB HOST INDUSTRY REVIEW) ? Voice over Internet protocol provider ShoreTel announced on Thursday it has signed a definitive agreement to acquire hosted unified communications provider M5 Networks, allowing ShoreTel to provide its customers a choice between on-premise and hosted UC solutions.
Under the terms of the agreement, M5 shareholders will receive about $84 million in cash and 9.5 million shares of ShoreTel stock. This equates to a total of $146.3 million in initial consideration based on a ShoreTel?s average stock price over the prior 30 trading days.
In addition, M5 shareholders may receive additional contingent consideration of up to $13.7 million which will be paid over the two years after the acquisition?s closing.
The acquisition of M5 enables ShoreTel to expand its solutions into the cloud and reach a large and growing market segment of customers that are looking to deploy IP communications through a hosted model.
?The acquisition of M5 positions ShoreTel as a leader in the fast-growing cloud UC market and delivers a suite of hosted telephony solutions that is unmatched in the marketplace,? said Peter Blackmore, CEO of ShoreTel. ?This acquisition is a critical step in our evolution and enables the company to capitalize on trends in cloud computing and advance our enterprise communications strategy.?
M5 has been offering hosted UC solutions since 2000 and today provides more than 2,000 companies with enterprise-grade communications on a subscription basis.
In another recent unified communications acquisition deal, data center and storage solutions provider ePlus Technology purchased Cisco advanced unified communications provider VantiCore in early January.
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