Cloud communications provider 8×8 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 8×8 takeover first was announced earlier this week and the deals terms changed slightly upon closing. 8×8 had agreed to buy Contactual for 6.7 million shares of unregistered 8×8 common stock but that amount was cut by 215,000 shares; 8×8 agreed to pay some tax withholdings on behalf of five former Contactual executives instead.
For 8×8, the Contactual acquisition brings in-house the only major software technology it was offering to customers but didnt 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 8×8. 8×8 also has hired Contactuals 32 employees.
8×8 expects the purchase to immediately add to its full fiscal year net income. Contactuals 2010 revenue totaled $8.3 million.