ShoreTel IPO

July 5, 2007

ShoreTel hit it big with an IPO which jumped 27.5% on it’s opening day. The IPO was derailed last week as a result of a lawsuit filed by Mitel. The company closed the day at $12.15, after the company priced 7.9 million shares at $9.50 a share.

Many comments circulated the blogosphere recently about how in the PBX space, Cisco owns the high-end and open-source owns the low end – with only scraps remaining for the companies in-between.

I agree with some of these comments but at the same time there is a massive opportunity to continue upgrading the world’s enterprise phone systems. Scraps could equate to billions of dollars each year. I don’t know about you but I wouldn’t mind a 7% piece of a hundred billion dollar pie.

May I have another slice please. :)

Here is more from the Silicon valley Business Journal.

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