ShoreTel (NASDAQ: SHOR), a global provider of IP phone systems and unified communications solutions, has announced it is acquiring Corvisa, a provider of cloud-based communications solutions, from Novation Companies (OTCQB: NOVC). Corvisa’s open, standards-based APIs and software development kits (SDKs) would accelerate third party application integration within the ShoreTel ecosystem.
Corvisa’s standalone cloud contact center would expand ShoreTel’s presence in the rapidly growing contact center market, allowing for integration with non-ShoreTel communication solutions.
ShoreTel will pay $8.5 million in cash to acquire the unified communications cloud provider, which represents a portion of the parent company’s revenue, expenses and employee base. The transaction is expected to close during the March 2016 quarter, subject to customary closing conditions.
The acquisition will bring approximately 95 employees, most of whom are in technical and customer-facing roles. These highly desired technical engineers would be instrumental in the acceleration of ShoreTel’s innovative architecture and product roadmap.
“The acquisition of Corvisa aligns tightly with our strategic plan and acquisition priorities,” said Don Joos, president and CEO of ShoreTel. “We are in our acceleration phase of our strategic plan, focused on accelerating technology time to market, growing hosted revenue, and expanding our cloud offering globally. Corvisa’s technology and engineering resources are very complementary to ShoreTel. I’m excited about the robust API’s to accelerate application integration and the additional growth that an expanded cloud contact center will bring.”
SIP Trunking Provider
The addition of Corvisa’s SIP trunking to the ShoreTel solution portfolio will position ShoreTel as a SIP trunking provider, unlocking new revenue streams for ShoreTel and its channel partners while delivering simpler transactions for customers.
“ShoreTel has global reach, is able to scale for all business communication needs and has shown a strong track record of growth,” said Matt Lautz, CEO of Corvisa. “We believe Corvisa’s cloud contact center coupled with ShoreTel’s go-to-market expertise in this area creates a compelling combination.”
ShoreTel’s 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.