8x8 to Acquire Fuze
8x8, an integrated cloud communications platform provider, will acquire fellow cloud-based communications systems provider Fuze for approximately $250 million in stock and cash.
The acquisition will accelerate 8x8's innovation around its XCaaS (eXperience Communications as a Service) single-vendor, integrated unified communications-as-a-service (UCaaS), contact center-as-a-service (CCaaS), and communications platform-as-a-service (CPaaS) solution and expand 8x8's customer base and global presence.
"The migration to cloud-based communications and engagement is accelerating as organizations worldwide shift to hybrid work models, creating a multibillion dollar opportunity," said Dave Sipes, CEO of 8x8, in a statement. "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."
"Enterprise customers recognize the importance of an integrated UCaaS and CCaaS solution. 8x8'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," said Brian Day, CEO of Fuze, in a statement. "Combining resources and expertise with 8x8 is a natural fit, bringing with it needed scale and accelerating the pace of product innovation with differentiated solutions that capitalize on this massive opportunity, all of which will serve to benefit our enterprise customer base."