8×8 to Acquire Fuze in Deal Worth $250 Million

Cloud communications platform provider 8×8 will acquire rival Fuze for approximately $250 million in stock and cash. 8×8 says the deal will accelerate 8×8 XCaaS (eXperience Communications as a Service) innovation and expand its enterprise customer base and global presence. Look for the transaction to close before the end of the year.

8×8’s Dave Sipes

Dave Sipes is CEO at 8×8.

“The migration to cloud-based communications and engagement is accelerating as organizations worldwide shift to hybrid work models, creating a multibillion-dollar opportunity,” Sipes said. “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.”

Fuze touts global operations dedicated to a seamless customer experience between unified communications and contact center. Subsequently, acquiring Fuze will further support innovation and development of 8×8 XCaaS. 8×8 calls XCaaS a single-vendor, integrated UCaaS, CCaaS and CPaaS solution.

Cloud Communications Combining Resources

Fuze’s Brian Day

Brian Day is CEO of Fuze.

“Enterprise customers recognize the importance of an integrated UCaaS and CCaaS solution. 8×8’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,” Day said. “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.”

As a result, the acquisition will deliver strong value to customers, employees, partners, and stakeholders, the companies say. It will dramatically increase resources for research and development, engineering and support. Furthermore, it will provide significant cross-sell opportunities with 8×8’s omnichannel contact center. It also gives 8×8 additional CPaaS capabilities to support enterprise customer engagement efforts.

We’ll have continuing coverage of this breaking news throughout the day and week ahead.