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    EGHT   US2829141009

8X8, INC.

(EGHT)
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8x8, Inc. completed the acquisition of Fuze, Inc.

01/18/2022 EDT

8x8, Inc. (NYSE:EGHT) entered into an agreement and plan of merger to acquire Fuze, Inc. for approximately $250 million on November 30, 2021. As of February 3, 2022, Under the terms of the Merger Agreement, the Company acquired 100 % of the equity of Fuze, Inc. on a cash-free, debt-free basis for approximately $ 250.0 million in cash and stock valued at the time of announcement, which at the Closing Date, the estimated merger consideration was approximately $ 211.9 million comprised of $ 79.0 million in stock consideration and $ 132.9 million in cash consideration, subject to certain adjustments. Under the terms of the transaction, 8x8, Inc. will acquire Fuze on a cash-free, debt-free basis for approximately $250 million of aggregate consideration comprised of $120 million in common stock of 8x8, Inc. and $130 million in cash, subject to certain adjustments. Up to $130.2 million will be used to retire Fuze’s debt and pay for the equity owned by non-accredited stockholders of Fuze. 8x8, Inc. will have sufficient funds to consummate the transaction. Post-closing, Fuze will become a wholly owned subsidiary of 8x8, Inc. As of December 31, 2020, Fuze, Inc. had total assets of $42.5 million, total revenues of $129.7 million, net loss of $47.4 million and shareholders deficit of $0.7 million. The transaction is subject to regulatory approvals, government approvals, United Kingdom Competition and Markets Authority approvals, approval of Fuze’s stockholders, key employees having executed agreements with 8x8, Inc. (which will continue to be in full force and effect) and who will remain employed by Fuze as of the closing date, stockholders representing no more than 5% of outstanding capital stock of Fuze will have exercised appraisal rights, non-competition, non-solicitation agreement and other customary closing conditions. The Board of Directors of 8x8, Inc. have unanimously approved the transaction. The transaction is expected to close during 8x8’s fourth fiscal quarter. 8x8 expects to remain non-GAAP profitable after the transaction closes. Thomas J. Ivey and Michael Mies, Anne Villanueva; Page Griffin, Maria Raptis, Rita Sinkfield Belin of Skadden, Arps, Slate, Meagher & Flom LLP acted as the legal advisor for 8x8, Inc. Miguel J. Vega of Cooley LLP acted as the legal advisor for Fuze, Inc. Foros Securities LLC acted as financial advisor for Fuze, Inc. Stuart Rogers acted as legal advisor to Foros Securities LLC. 8x8, Inc. (NYSE:EGHT) completed the acquisition of Fuze, Inc. on January 18, 2022.


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Financials (USD)
Sales 2022 638 M - -
Net income 2022 -172 M - -
Net cash 2022 118 M - -
P/E ratio 2022 -4,70x
Yield 2022 -
Capitalization 819 M 819 M -
EV / Sales 2022 1,10x
EV / Sales 2023 0,84x
Nbr of Employees 1 696
Free-Float 97,3%
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 6,92 $
Average target price 13,19 $
Spread / Average Target 90,6%
EPS Revisions
Managers and Directors
David D. Sipes Chief Executive Officer & Director
Samuel Wilson Chief Financial & Accounting Officer
Jaswinder Pal Singh Chairman
Bryan R. Martin Chief Technology Officer
Dejan Deklich Chief Innovation Officer
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