8×8 has completed its acquisition of Fuze for around $250m.
In a statement, 8×8 said the deal expands its enterprise customer base and global presence. The acquisition was first revealed last month.
Dave Sipes, Chief Executive Officer at 8×8, said: “We are excited to welcome Fuze employees, customers and partners to 8×8. We are committed to supporting the Fuze platform while offering the best of both platforms to all of our customers.
“With this acquisition, we can further extend our XCaaS offering to deliver a differentiated experience for enterprise organisations, which is instrumental as we drive to become a $1bnrevenue SaaS business”
8×8 is due to announce its quarterly numbers at the start of next month.
In its most recently reported quarter, the vendor saw sales climb 17 percent to $151.6m, of which services contributed $142.m.
- Fuze introduces new vertical solutions
- Fuze Reveals Interoperability with Zoom, Teams and More
- Fuze introduces recruitment offering
Sipes talked UC Today through the rationale behind the Fuze acquisition on the day it was announced.
The deal is 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 that Fuze has around 300 enterprise customers, culminating in over 400,000 paid users.
