8×8 has revealed plans to acquire Fuze for $250m to accelerate it XCaaS offering.
The deal will be made up of $130m in cash and $120m in 8×8 stock. 8×8 said it will use up to $130.2m to pay off Fuze’s debt and other Fuze investors.
8×8 said the addition of Fuze will expand its global reach, particularly in Europe, while also creating cross-sell opportunities.
Dave Sipes, CEO at 8×8, said: “The migration to cloud-based communications and engagement is accelerating as organizations worldwide shift to hybrid work models, creating a multi-billion dollar opportunity,”
“The acquisition of Fuze expands our operational scale and extends our global presence as we meet enterprise demand for our XCaaS integrated UCaaS and CCaaS solution”
“Our XCaaS strategy is defining and shaping the future of the cloud communications industry as we drive innovation to help our customers meet their changing business requirements.”
Together with @8×8, we will shape the future of hybrid work and accelerate innovation. We look forward to delivering superior integrated communications experiences. https://t.co/BGYYStkUvr pic.twitter.com/37QLNQ9x4Q
— Fuze (@fuze) December 1, 2021
Fuze has around 300 enterprise customers, culminating in over 400,000 paid users.
Brian Day, Fuze CEO, said: “Enterprise customers recognize the importance of an integrated UCaaS and CCaaS solution. 8×8’s industry-leading XCaaS solution for an integrated employee and customer experience enables customers to advance their cloud transformation efforts as they move off legacy on-premises systems.
“Combining resources and expertise with 8×8 is a natural fit, bringing with it needed scale and accelerating the pace of product innovation with differentiated solutions that capitalise on this massive opportunity, all of which will serve to benefit our enterprise customer base.”
In a blog post, Sipes said to channel partners: “This commitment to all customers’ current and future needs also gives 8×8 and Fuze channel partners confidence that their customers’ investments—and therefore their customer relationships—are protected, with the promise of future innovation to meet evolving customer needs.
“It creates significant new revenue opportunities with an expanded solution portfolio and complementary partner-led value-added services.”
8×8 launched its XCaaS solution earlier this year, bringing together its UC and CC offerings. Last year it entered the CPaaS market via the acquisition of Wavecell.
