Acquisition Extends 8x8’s Global Reach® Strategy and Accelerates Delivery of Line Of Business Communications Solutions For Highly Personalized Customer Engagement
SAN JOSE, Calif.--(BUSINESS WIRE)--8x8, Inc. (NASDAQ:EGHT, news, filings), a leading provider of cloud-based unified communications and contact center solutions, today announced the company has signed a definitive agreement to acquire privately-held DXI Ltd., a UK-based leader and innovator in cloud-based outbound and blended contact center solutions, for £16.5 million in cash and stock with a portion of the purchase price being paid out over four years. The transaction is expected to close before the end of the month. 8x8 plans to bring DXI services and solutions to the U.S. market by the end of 2015.
DXI is an innovative solution provider in the contact center market. EasyContactNow, DXI’s product, enables customers to easily try, buy, deploy, and adapt services without the complexity and constraints experienced with traditional systems. DXI’s management team has 80 years of combined expertise in communication technology, which has helped the company build a solid business with demonstrated market traction— securing major global and regional customers, ranging from SMEs to global enterprises.
"The acquisition of DXI enables 8x8 to continue to boost its European expansion efforts and further position the company as a leader in cloud contact center solutions as we continue to penetrate the mid-market and enterprise," said Vik Verma, Chief Executive Officer of 8x8. “With DXI’s strong UK contact center market presence and outstanding technical team, 8x8 can broaden its European footprint, offer a frictionless, online sales approach for agile contact centers and line-of-business buyers, and add a stellar team passionate about bringing next-generation contact center innovations to market.”
"8x8 continues to increase its focus on the contact center market, and DXI’s offerings are highly complementary to our existing Virtual Contact Center solutions,” Verma continued. “The DXI integration accelerates our ability to bring strong outbound capabilities and uniquely personalized, high-touch customer engagement capabilities to key lines of business and workgroups within larger organizations. Most importantly, we embrace a shared vision that easy-to-use, highly responsive customer engagement capabilities are critical for all employees throughout the organization.”
"We are pleased to be part of the 8x8 team during such an exciting time for the company, with its outstanding U.S. reputation, strong momentum in the mid-market and formidable, growing international presence," said Luca Pepere, DXI CEO. “Over the last couple years, we have seen an inflection point for cloud communications, and the contact center continues to evolve from a stand-alone cost center to a critical organization-wide business asset. This market shift will propel the next phase of our business, and together, we will drive a new level of disruption in business communications.”
About 8x8, Inc.
8x8, Inc. (NASDAQ:EGHT) is the trusted provider of secure and reliable enterprise cloud communications solutions to more than 40,000 businesses operating in over 40 countries across six continents. 8x8's out-of-the-box cloud solutions replace traditional on-premises PBX hardware and software-based systems with a flexible and scalable Software as a Service (SaaS) alternative, encompassing cloud business phone service, contact center solutions, and conferencing. For additional information, visit www.8x8.com, or www.8x8.com/UK or connect with 8x8 on Google+, Facebook, LinkedIn and Twitter.
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. These statements include, without limitation, information about future events based on current expectations, potential product development efforts, near and long-term objectives, potential new business, strategies, organization changes, changing markets, future business performance and outlook. Such statements are predictions only, and actual events or results could differ materially from those made in any forward-looking statements due to a number of risks and uncertainties. Actual results and trends may differ materially from historical results or those projected in any such forward-looking statements depending on a variety of factors. These factors include, but are not limited to, market acceptance of new or existing services and features, success of our efforts to target mid-market and larger distributed enterprises, changes in the competitive dynamics of the markets in which we compete, customer cancellations and rate of churn, impact of current economic climate and adverse credit markets on our target customers, our ability to scale our business, our reliance on infrastructure of third-party network services providers, risk of failure in our physical infrastructure, risk of failure of our software, our ability to maintain the compatibility of our software with third-party applications and mobile platforms, continued compliance with industry standards and regulatory requirements, risks relating to our strategies and objectives for future operations, including the execution of integration plans and realization of the expected benefits of our acquisitions, the amount and timing of costs associated with recruiting, training and integrating new employees, introduction and adoption of our cloud communications and collaboration services in markets outside of the United States, compliance with international regulations, and general economic conditions that could adversely affect our business and operating results. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s reports on Forms 10-K and 10-Q, as well as other reports that 8x8, Inc. files from time to time with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement, and 8x8, Inc. undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future.