8×8, Inc., a Campbell, California-based unified communications (UCaaS) vendor, has announced an agreement to acquire Fuze, a Boston-based cloud communications company, in a deal worth approximately $250 million in stock and cash.
Fuze has global operations dedicated to unified communications and contact center capabilities.
“The migration to cloud-based communications and engagement is accelerating as organizations worldwide shift to hybrid work models, creating a multi-billion dollar opportunity,” said Dave Sipes, CEO at 8×8. “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,” said Brian Day, CEO of Fuze. “Combining resources and expertise with 8×8 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.”
The acquisition is expected to accelerate R&D; expand 8×8’s global presence, particularly in Europe; and provide new cross-sale capabilities.
The transaction is expected to close during 8×8’s fourth fiscal quarter, subject to the satisfaction of regulatory approvals and other customary closing conditions.
The move will likely strengthen the value proposition for channel partners seeking to compete against many of the key players in the UCaaS/CCaaS space.