8x8 Closes Contactual Purchase

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Cloud communications provider 8x8 Inc. has closed the purchase of Contactual Inc., whose technology it had been reselling since 2007.

Privately held Contactual specializes in cloud-based call-center and customer-interaction management platforms. The 8x8 takeover first was announced earlier this week and the deal’s terms changed slightly upon closing. 8x8 had agreed to buy Contactual for 6.7 million shares of unregistered 8x8 common stock but that amount was cut by 215,000 shares; 8x8 agreed to pay some tax withholdings on behalf of five former Contactual executives instead.

For 8x8, the Contactual acquisition brings in-house the only major software technology it was offering to customers but didn’t own. The company now holds “a unique and powerful position to quickly and effectively meet the needs of the growing number of businesses seeking non-premise, cloud-based call center services," said Bryan Martin, chairman and CEO of 8x8. 8x8 also has hired Contactual’s 32 employees.

8x8 expects the purchase to immediately add to its full fiscal year net income. Contactual’s 2010 revenue totaled $8.3 million.

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