In a surprising merger announcement, Mitel announced they are buying ShoreTel for $430 Million.

Per Dan Joos, President and COO of ShoreTel, “The combination of Mitel and ShoreTel will create a new UCaaS market leader with a differentiated strategy and solution. Mitel and ShoreTel are committed to providing continued support and an attractive path forward for all customers so that no customer is left behind or will have to abandon what they already have to cloud-enable their organization.”
This moves Mitel to number two in the $4 Billion UCaaS Market, which includes RingCentral, 8×8, and Vonage. The deal is expected to close third quarter of 2017 and they will operate under the Mitel name.
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