Upon reporting Q2 financial results last week, ShoreTel (SHOR) may have momentary roused some in a sleepy industry. While its overall business performance in the quarter was largely in-line with expectations, it was the announcement of its planned acquisition of M5 Networks, a hosted, business phone service provider that would have caused the awakening. The announced acquisition marks the first, focused entrance into the fast growing but fragmented hosted telecom services business by a major PBX manufacture and may well set the stage for others to follow. In an industry that has long eschewed the hosted-voice platform the way a king might a peasant, the announcement is sure to bring about a polarizing discussion.

via Can You Hear Me Now? ShoreTel Sends A Clear Message To The Competition – Seeking Alpha.