SUNNYVALE, Calif., Nov. 4, 2015 /PRNewswire/ -- ShoreTel® (NASDAQ: SHOR), the leading provider of brilliantly simple hosted phone systems and unified communications (UC) solutions, today announced it is expanding its presence in Australia with the purchase of M5 Networks Australia.
As part of the company's Acceleration phase of growth, ShoreTel is expanding its cloud solutions geographically. ShoreTel already has a strong roster of onsite customers in Australia, and the M5 Australia acquisition will bring a ShoreTel hosted voice solution to the region.
"The acquisition of M5 Australia is another step in our strategic plan to grow our cloud offering outside the United States, and will fill a demand for a cloud solution in the Australian market," said Don Joos, president and CEO of ShoreTel. "The purchase of M5 Australia will enable us to quickly accelerate our roll-out in the country, leveraging our existing employees and established partner base. I'm pleased to welcome the M5 Australia employees to the ShoreTel family."
"Australian businesses are very cloud savvy and are eager to buy communication services from proven providers. We're happy to become part of ShoreTel so we can expand the reach of our product offerings and create greater opportunities for our employees," said Richard Ruth, managing director of M5 Australia.
Terms of the deal are not being disclosed. The acquisition is subject to customary closing conditions, and is expected to close this quarter.
About ShoreTel, Inc. ShoreTel, Inc. (NASDAQ: SHOR) is a leading provider of brilliantly simple IP phone systems and unified communications solutions powering today's always-on workforce. Its flexible communications solutions for on-premises, cloud and hybrid environments eliminate complexity, reduce costs and improve productivity. Recognized for its industry-leading customer experience and support, ShoreTel's innovative business phones, application integration, collaboration tools, mobility, and contact center applications enable users to communicate and collaborate no matter the time, place or device, with minimal demand on IT resources. ShoreTel is headquartered in Sunnyvale, Calif., and has regional offices and partners worldwide. For more information, visit www.shoretel.com.
Legal Notice Regarding Forward-Looking Statements ShoreTel assumes no obligation to update the forward-looking statements included in this release. This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the federal securities laws, including, without limitation, statements regarding the expected benefits of the proposed acquisition. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. The risks and uncertainties include our ability to integrate M5, our ability to retain M5's customer base, potential unknown liabilities, security breaches or outages which may negatively affect our reputation, managing geographically-dispersed operations, increased risk of intellectual property litigation by entering into new markets, uncertainty as to ShoreTel's ability to retain and motivate key personnel from the acquired company, increased competition by entering into new markets, the potential for litigation in our industry, and other risk factors set forth in ShoreTel's Form 10-K for the year ended June 30, 2015.
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