ShoreTel’s Cloud Division Listed on Inc. Magazine 500|5000 Ranking
M5 earns its seventh consecutive appearance on the Annual Exclusive List of America’s Fastest-Growing Private Companies
SUNNYVALE, Calif., Aug. 23, 2012 — ShoreTel® (NASDAQ; SHOR), the leading provider of brilliantly simple premise and cloud-based business phone systems and communication solutions with fully integrated unified communications (UC), today announced that Inc. magazine ranked M5 Networks, now ShoreTel’s Cloud Division, number 2,308 on its sixth annual Inc. 500|5000, an exclusive ranking of the nation’s fastest growing private companies.
The ranking was based on M5 Network’s financial performance, prior to its acquisition by ShoreTel in March 2012, showing sales growth of 109% over three-years. M5 joins Yelp, yogurt maker Chobani, Giftcards.com, KIND and hat-maker Tilly’s, among other prominent brands featured on this year’s list.
“We want to thank our customers for helping us, once again earn a spot among these prestigious company,” said Dan Hoffman, president of ShoreTel’s Cloud Division. “We have found that by providing excellent service along with innovative solutions, we can turn our clients into advocates and outpace the market in terms of revenue growth.”
In a stagnant economic environment, median growth rate of 2012 Inc. 500|5000 companies remains at an impressive 97 percent. The companies on this year’s list report having created over 400,000 jobs in the past three years, and aggregate revenue among the honorees reached $299 billion.
The 2012 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2008 to 2011. To qualify, companies must have been founded and generating revenue by March 31, 2008. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2011. (Since then, a number of companies on the list, including M5 Networks, have gone public or been acquired.) The minimum revenue required for 2008 is $100,000; the minimum for 2011 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/5000.
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About ShoreTel, Inc.
ShoreTel, Inc. (NASDAQ: SHOR) brings unmatched flexibility, choice and value to brilliantly simple business phones systems and unified communications (UC). With its award-winning premise-based IP phone system with integrated unified communications, contact center capabilities, and its proven hosted VoIP services, organizations of all sizes can select the best option for their needs. ShoreTel’s ongoing mission is to eliminate costly complexity and give customers the 24/7 freedom to leverage rich voice, video, data and mobile unified communications capabilities they need. ShoreTel is based in Sunnyvale, California, and has regional offices in Austin, Texas; Rochester and New York, N.Y.; Chicago, Ill.; Maidenhead, United Kingdom; Sydney, Australia; and Singapore. For more information, visit www.shoretel.com.