8x8 to buy enterprise cloud communications provider Fuze

Cloud communications platform provider 8x8 Inc. said Dec. 1 that it agreed to acquire Fuze Inc., which offers cloud-based communications for enterprises.

The acquisition price is about $250 million, subject to certain adjustments. It is composed of about $130 million in cash and $120 million in 8x8's common stock. Of the total amount, up to $130.2 million will be used to retire Fuze's debt and pay for the equity owned by Fuze's non-accredited stockholders.

8x8 expects the acquisition to further boost innovation and development of 8x8 XCaaS, a single-vendor solution that combines cloud-native contact center, voice, team chat, video meetings and communications platform-as-a-service capabilities. The deal would also expand 8x8's enterprise customer base and global footprint.

8x8 also committed to supporting Fuze customers on the Fuze platform, Fuze said in an official blog post. The companies will combine their respective platforms to form a unified cloud communications offering.

The transaction's completion is expected during 8x8's fiscal fourth quarter, subject to regulatory approvals and other customary closing conditions.