8X8 INC /DE/ acquired Voicenet Solutions Limited for approximately $19.3 million (including $3.0 million placed in escrow), a transaction completed in November 2013, structured as cash.
Voicenet Solutions Limited operates in Cloud communications & collaboration (UK), is based in United Kingdom. Voicenet Solutions was a UK-based provider of cloud communications and collaboration services. 8x8 purchased all of Voicenet's outstanding shares for total consideration of about $19.3 million (with $3.0 million in escrow released to sellers over two anniversaries), holding Voicenet through a newly formed UK subsidiary. The deal added roughly $20.8 million of goodwill and customer-relationship intangibles (about a 7-year life).
Extend 8x8's presence and cloud-communications footprint in the United Kingdom and Europe; gain a UK customer base and local operations plus synergies and workforce.
8x8 UK subsidiary
Advisory firms were not disclosed for this transaction.