Cloud comms and collaboration solutions provider 8x8 has signed a definitive agreement to acquire privately-held Voicenet Solutions for $18.4 million in cash.
Voicenet Solutions provides a range of UC services supporting both SMB and mid-market businesses, including fixed mobile convergence applications.
"The acquisition of Voicenet clearly demonstrates the execution of our international expansion strategy as well as our move up market," said Vik Verma, Chief Executive Officer of 8x8.
"With its existing operational footprint, team of skilled and dedicated employees, solid mid-market and distributed enterprise customer base and reputation in the UK, Voicenet provides 8x8 with an opportunity to replicate in Europe the successful, profitable SaaS communications and collaboration business we've built in North America.
"We view this expansion model as a key component of our global reach initiative and, including this acquisition, we continue to target non-GAAP net income as a percentage of revenue in the high single digit range."
This acquisition provides 8x8 an operational presence in Europe to support its US customers with multinational offices and at the same time enables Voicenet to market a broader range of services to its installed base of customers.
"We look forward to welcoming our new Voicenet employees to 8x8 and providing their UK customers with our comprehensive, secure and reliable cloud communications and collaboration services," added Verma.
Kevin Scott-Cowell, CEO of Voicenet Solutions, added: "Voicenet has an established base of over 1,000 business customers and is well respected in the UK market.
"8x8 has a suite of cloud communications and collaboration services that will strengthen and extend our existing portfolio of services among our growing base of UK and multinational customers."