8x8 Acquires Firm To Enhance IP Telephony
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Under the terms of the agreement, 8x8 intends to issue up to 2.9 million common shares of its stock in exchange for all of the outstanding shares of Odisei capital stock, subject to adjustment based on the trading range of 8x8's stock prior to the closing of the acquisition. The closing is expected to occur within 30 days.
As a result of the acquisition, Odisei will become a subsidiary of 8x8 and Frederic Artru, Odisei founder and CEO, will become general manager of the subsidiary.
8x8 will combine Odisei's IntraSwitch IP-PBX, a scalable Java-based solution for managing voice over IP (VoIP) networks, with its own Symphony VoIP module technology to enhance its offerings to customers, the firm said.
With the combined technology, 8x8 said it will be able to offer IP telephony services to Internet service providers, competitive local exchange carriers (CLECs), and incumbent local exchange carriers (ILECs).
"Our combined solution addresses many of the limitations associated with switched-based technology and gives ISPs and CLECs a powerful weapon with which to compete against incumbent telcos in selling telephony services," said Paul Voois, chairman and chief executive officer of 8x8.