8×8, Inc. (NASDAQ: EGHT), a provider of cloud communications and collaboration solutions, TODAY announced that it has completed the acquisition of UK-based Voicenet Solutions, Inc. for USD18.4m in cash.
The acquisition is expected to be neutral to 8×8´s net income for the fiscal year ending March 31, 2014, after excluding one-time costs associated with the acquisition and amortization expenses. For the three and six-month periods ended September 30, 2013, Voicenet´s unaudited revenue was approximately USD2.4m and USD4.7m, inclusive of approximately USD0.2m of deferred revenue recognized during the three months ended September 30, 2013. Forty-four employees of Voicenet have joined 8×8 as part of the transaction.
8×8 is a provider of unified communications and collaboration, or UCC, services in the cloud to small and medium businesses, or SMBs, and mid-market and distributed enterprises. For additional information, visit www.8×8.com.