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SHOR - Shoretel Inc News Story

$7.5 0.0  0.0%

Last Trade - 22/09/17

Sector
Technology
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £274.5m
Position in Universe th / 6401

BRIEF-Shoretel to acquire UC cloud provider Corvisa

Mon 21st December, 2015 9:05pm
Dec 21 (Reuters) - Shoretel Inc  SHOR.O : 
 * To acquire uc cloud provider corvisa 
 * Says will pay $8.5 million in cash to acquire corvisa 
 * Says acquisition is expected to accelerate shoretel's fiscal 2017 hosted 
   revenue growth to at or around 30 percent 
 * GAAP operating results will also be impacted by an additional $1 million 
   related to one-time deal expenses in the March 2016 quarter 
 * Says expects to return to non-GAAP operating profit in the quarter ending 
   June 2016 
 * Expects ongoing impact of corvisa business in first 90 days of operations to 
   reducenon-GAAP operating profit by about $3.5 million 
 
 * Source text for Eikon  ID:nPnVmHRX  
 
 * Further company coverage  SHOR.O   
 
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