ShoreTel Acquires M5 Networks for $160,000,000
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Feed Type
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Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2ffa1fbc-2c39-469c-ac45-1da0e2391fc3&Preview=1 -
Date
2/2/2012 -
Company Name
M5 Networks -
Mailing Address
245 West 17th Street New York, NY 10011 -
Company Description
M5 is a trusted hosted business VoIP phone system provider with proven customer satisfaction. -
Website
http://www.m5net.com -
Transaction Type
M&A -
Transaction Amount
$160,000,000 -
Transaction Round
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Proceeds Purposes
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M&A Terms
M5 shareholders will receive approximately $84 million in cash and 9.5 million shares of ShoreTel stock, which 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. The contingent payments are payable over the two years after closing and are based upon the achievement of certain revenue performance milestones for the year ended Dec. 31, 2012.
