Unified communications-as-a-service (UCaaS) vendor 8x8 is to acquire cloud communications competitor Fuze for US$250 million.
According to an announcement, the deal will help 8x8 bolster its eXperience-communications-as-a-service platform, while expanding its customer base and global footprint.
Acquiring Fuze will also help 8x8 with its UCaaS solution, contact centre-as-a-service (CCaaS) and communications-platform-as-a-service (CPaaS) solution, it is claimed.
“The migration to cloud-based communications and engagement is accelerating as organisations worldwide shift to hybrid work models, creating a multibillion-dollar opportunity,” said 8x8 CEO Dave Sipes, who joined the vendor from RingCentral, where he was COO, in late 2020.
"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.”
In addition to these, the deal will also provide "significant" cross-sell opportunities with 8x8’s omnichannel contact centre and CPaaS capabilities.
“Enterprise customers recognise 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.
“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 capitalise on this massive opportunity, all of which will serve to benefit our enterprise customer base.”