Why 8x8 Stock Is Falling Today

Why 8x8 Stock Is Falling Today

Shares of 8x8, Inc. (NYSE: EGHT) were falling today after the company announced that it has entered into an agreement to acquire Fuze, a cloud-based enterprise communications company. 8x8 said that the purchase of Fuze will cost approximately $250 million in stock and cash. The company said that purchasing Fuze will accelerate 8x8's eXperience Communications as a Service (XCaaS) offering and add to the company's enterprise customer base.