Under the terms of the agreement, 8×8 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 8×8’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 8×8 and Frederic Artru, Odisei founder and CEO, will become general manager of the subsidiary.
8×8 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.
IntraSwitch runs on a carrier-grade server and provides voice and data services over T1/E1, xDSL or cable lines. With it, 8×8’s Symphony will allow customers to use inexpensive analog telephones while benefiting from IntraSwitch’s features, such as call forwarding, remote pickup, call routing and voice mail.
With the combined technology, 8×8 said it will be able to offer IP telephony services to Internet
service providers, competitive local exchange carriers (CLECs), and incumbent local exchange
“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 8×8.