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Wall Street Journal: ShoreTel To Buy M5 Networks In Deal Valued Up To $162.4M

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ShoreTel Inc. (SHOR) agreed to acquire cloud-computing company M5 Networks for up to $162.4 million in cash and stock, adding to the online telephone provider's software portfolio.

ShoreTel makes voice-over-Internet-protocol products, which use computer networks to make telephone services more flexible and less expensive. M5's technology provides its communication services through the cloud, a term used to describe networks that can host customers' software and data off-site.

Under the terms of the agreement, ShoreTel will pay M5 shareholders about $84 million in cash and disburse 9.5 million shares of ShoreTel stock, which is worth about $64.7 million based on the company's Wednesday closing price.

Read more at the Wall Street Journal.