8x8 has sold Callstats to Spearline, the communications testing tool provider, for an undisclosed fee.
The deal comes less than three years after 8x8 acquired the quality monitoring and analytics technology for WebRTC from callstats.io.
At the time, Vikram Verma, former CEO of 8x8, described it as a "very interesting" technology that "analyzes all call stats and flows for WebRTC endpoints... It ensures we have end-to-end analytics."
However, 8x8 is now bidding the solution farewell as it is "a better fit" for Spearline.
Indeed, in announcing the sale, Victor Belfor, Global VP of Business Development and Strategic Partnerships at 8x8, stated:
We are continuing to focus our innovation on our highly differentiated 8x8 XCaaS cloud communications and contact center solution, and believed Callstats was a better fit for Spearline's capabilities.
While it may indeed align better with Spearline’s portfolio of communication testing tools, the move may also support 8x8 in combatting its rising debts.
Over the past year alone, these have risen by $317.3MN, taking its total debt to $516.7MN, according to a Simply Wall Street report released on Monday.
Moreover, the prominent CCaaS and UCaaS provider has liabilities of $169.0m due within the next year, per its last reported balance sheet.
Thankfully, it does have $130.9MN of cash and $70.7m worth of receivables due within the next 12 months. Yet, this sale may give the vendor more breathing room as its revenues grow.
Last quarter, these revenues increased by 23 percent YoY to $187.4MN. If they keep rising, the company may grow its way to profitability.
Yet, 8x8 will have to do so with a new CEO after it terminated the contract of David Sipes last week – who spent two years at the vendor’s helm.