8x8 (Nasdaq: EGHT) is bolstering its network and service capabilities in the UK and Europe by acquiring Voicenet Solutions, a cloud business telephony and communications provider, for $18.4 million. After meeting customary closing conditions, 8x8 said it expects the sale to close before the end of 2013.
Verma (Source: 8x8)
Voicenet, which has been present in the UK for over nine years, has focused on selling its unified communications (UC) services mainly to the SMB and mid-market business markets.
One area of strength for Voicenet has been mobility. Its service suite includes a set of fixed mobile convergence applications that it said can offer the same features and functionality of desktop business phone solutions on wireless smart phones.
Vik Verma, chief executive officer of 8x8, said in a release that "Voicenet provides 8x8 with an excellent opportunity to replicate in Europe the successful, profitable SaaS communications and collaboration business we've built in North America."
This acquisition provides potential benefits to both 8x8 and Voicenet.
For 8x8, the deal enhances its ability to support U.S.-based customers with multinational offices, while giving Voicenet an opportunity to provide a broader range of services to its existing installed customer base.
Expanding its UK market presence has been an ongoing initiative for 8X8. Besides this acquisition, the service provider established agreement with Interxion, a European data center and carrier-neutral provider, in October.
- see the release
8x8 extends UK cloud service presence via Interxion partnership
8x8 shuffles executive team, appoints Verma as CEO
Week in research: UCaaS subscribers reach 1.6M; bundled services take off in Latin America