News : 8x8 Completes Acquisition of Quality Software Corporation
San Jose, CA, June 18, 2015 -- 8x8, Inc. (NASDAQ:EGHT), a provider of cloud-based unified communications and contact center solutions, announces it has completed the acquisition of certain assets of privately held Quality Software Corporation (QSC) and two affiliated companies.
The acquisition is expected to be neutral to 8x8's net income for the fiscal year ending March 31, 2016, after excluding one-time costs associated with the acquisition and amortization expenses.
With the acquisition of the QSC business, 8x8 expands its pure cloud contact center portfolio to include quality management capabilities such as call recording, screen capture, live monitoring, agent evaluations, speech transcription, reporting and detailed analytics. QSC’s Chief Executive Officer Ryan Morrissey joins 8x8 as Senior Director of Product Strategy while the company’s engineering team remains in Romania to supplement and build upon existing R&D resources in the United States and United Kingdom.
"We are very pleased to welcome Ryan and his colleagues to the 8x8 family," said 8x8 CEO Vik Verma. "This is an exciting time in 8x8’s history as we continue to build upon our innovative technology platform and Global Reach(R) initiative while further strengthening our capabilities for the mid-market and enterprise. Our new engineering resources in Romania will be instrumental in helping 8x8 achieve its R&D goals and maintain its leadership position in the cloud unified communications and contact center markets."
8x8 also reported, in accordance with NASDAQ Listing Rule 5635(c)(4), that employment inducement awards were granted to 83 new employees in connection with the recent acquisitions of DXI Ltd. and the QSC business. The employees received restrictive stock units for 203,065 shares of the company's common stock which will vest in equal annual installments over four years, subject to the employee’s continued employment and other conditions.
Posted by Veronica Silva Cusi, news correspondent
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About 8x8 Inc.:
8x8, Inc. (Nasdaq: EGHT) leverages its patented software technologies to deliver high quality voice solutions with integrated messaging and video to businesses of any size with employees in any location on a wide variety of business telephony, web and mobile platforms. 8x8 also offers managed hosting and cloud-based computing services.
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