Cloud communications firm 8x8 has announced it is to acquire fellow cloud communications company Fuze.
8x8 offers unified communications, contact centre and communications platform solutions as part of its 8x8 XCaaS product. Fuze, meanwhile, is a leader in the unified communications and contact centre space.
The deal will see 8x8 acquire Fuze for $250mn in stock and cash, with 8x8 framing the purchase as expanding its global customer base. The deal will close in 8x8’s fourth financial quarter, subject to the usual approvals and conditions.
“The migration to cloud-based communications and engagement is accelerating as organisations worldwide shift to hybrid work models, creating a multi-billion dollar opportunity,” said Dave Sipes, CEO at 8x8.
"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. 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.”
The companies said the acquisition would help them to take advantage of the opportunity for integrated communications in the new world of hybrid work thanks to their joint resources and combined global customer base.