An unnamed Investing.com source has told the financial news website that RingCentral has approached 8x8 about a potential take-over.
According to the post, RingCentral is said to be working with an investment bank to assess the implications of a potential purchase.
No reports have surfaced regarding 8x8's position and whether they are open to any possible sale.
Currently, 8x8's stock is trading at around $3.92, a considerable drop from the price of $21.3 this time last year.
If the rumors are to be believed, 8x8 could be hesitant to sell, given the weak bargaining position that their share price puts them in.
8x8 stakeholders may not feel that the current share price accurately reflects the actual value of the company.
However, if 8x8 is not feeling confident about the company's future position, then this could be seen as an ideal opportunity to walk away.
In the current market, recent finances may not be a reliable indicator of an organization's standing as, on the surface, RingCentral is not in a position to make such an offer.
Just weeks ago, RingCentral announced that 10 percent of its workforce is being laid off as it attempts to counter economic uncertainty.