8x8 has acquired enterprise Unified Communications as a Service (UCaaS) provider Fuze for approximately $250 million in stock and cash.
This is technology M&A deal number 749 that ChannelE2E has covered so far in 2021.
8x8 and Fuze: Business Challenges, UCaaS Opportunities
Fuze suffered some business turbulence and a company pivot ahead of the M&A deal. Most of the drama occurred in 2019, when Fuze changed CEOs, implemented layoffs and shifted to an enterprise focus. 8x8, meanwhile, had layoffs in 2020.
Fast forward to present day, and both companies say the M&A deal will position 8x8 as a complete provider of integrated UCaaS, Contact Center as a Service (CCaaS), and Communications Platform as a Service (CPaaS).
Moreover, 8x8 has considerable M&A experience -- having previously acquired callstats.io (2020), Wavecell (2019), Jitsi (2018), and numerous companies from about 2010 forward.
8x8 Acquires Fuze: Executive Perspectives
In a prepared statement about the deal, 8x8 CEO Dave Sipes said:
“The migration to cloud-based communications and engagement is accelerating as organizations worldwide shift to hybrid work models, creating a multi-billion dollar opportunity. 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.”
Added Brian Day, CEO of Fuze:
“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. 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.”
UCaaS Mergers and Acquisitions: M&A Deal List
M&A activity in the UCaaS space remains strong as organizations transition to a hybrid work model. You can see all UCaaS-related acquisitions ChannelE2E has tracked here.
