May 7, 2010 : 8x8 Acquires Central Host, Inc.
📅 - Acquisition enables the company to add managed hosting and cloud computing services to its business service offerings.
8x8, Inc., a provider of business communications solutions, yesterday announced that on May 1, 2010 it acquired Central Host, Inc., a Los Gatos, California-based company providing managed hosting services and cloud-based computing solutions to business customers.
The company avers that Central Host's managed hosting services enable business customers to reduce costs and gain performance and reliability advantages by eliminating in-house ownership of server equipment and costly information technology (IT) systems management staff. It states that Central Host's cloud-based services support a variety of hosted applications and services via quality data center space on the west and east coasts, a 24x7 operations staff, state-of-the-art server resources and systems management experts. It further states that Central Host currently operates three data centers in Silicon Valley and one data center in New York City.
The company says that under terms of the acquisition agreement, it paid $1 million in cash and issued 432,276 shares of common stock not registered for sale to Central Host's sole shareholder. It adds that Central Host has relocated to its Sunnyvale, California headquarters and will combine operations with its existing Network Operations Center (NOC), sales, customer service and data center operations.
"Adding managed hosting and cloud computing services to our business service offerings is an ideal extension of our current business," said Bryan Martin, Chairman and Chief Executive Officer of 8x8, Inc. "We are excited to provide additional enterprise-class services to our customer base, giving us multiple best-of-breed offerings to sell to the same installed base. Central Host's customers are ideal targets for 8x8's communications services, and we believe that many of 8x8's existing customers will benefit from the performance attributes and disruptive pricing of the Central Host offerings. We look forward to discussing the synergies and benefits of this acquisition during our fourth quarter and full-year results earnings conference call on May 19, 2010."
"Central Host is thrilled to join the 8x8 team," said Andy Schwabecher, Central Host's Founder and now General Manager of Managed Hosting and Cloud-Based Computing at 8x8, Inc. "8x8 runs one of the largest hosted business communication services in the world and is extremely successful in delivering one of the most critical and fundamental pieces of business infrastructure - communications services. By harnessing the strengths of this great team, I believe we have what we need to scale our cloud-based computing services to become the next major player in the managed hosting service market."
8x8, Inc., a provider of business communications solutions, yesterday announced that on May 1, 2010 it acquired Central Host, Inc., a Los Gatos, California-based company providing managed hosting services and cloud-based computing solutions to business customers.
The company avers that Central Host's managed hosting services enable business customers to reduce costs and gain performance and reliability advantages by eliminating in-house ownership of server equipment and costly information technology (IT) systems management staff. It states that Central Host's cloud-based services support a variety of hosted applications and services via quality data center space on the west and east coasts, a 24x7 operations staff, state-of-the-art server resources and systems management experts. It further states that Central Host currently operates three data centers in Silicon Valley and one data center in New York City.
The company says that under terms of the acquisition agreement, it paid $1 million in cash and issued 432,276 shares of common stock not registered for sale to Central Host's sole shareholder. It adds that Central Host has relocated to its Sunnyvale, California headquarters and will combine operations with its existing Network Operations Center (NOC), sales, customer service and data center operations.
"Adding managed hosting and cloud computing services to our business service offerings is an ideal extension of our current business," said Bryan Martin, Chairman and Chief Executive Officer of 8x8, Inc. "We are excited to provide additional enterprise-class services to our customer base, giving us multiple best-of-breed offerings to sell to the same installed base. Central Host's customers are ideal targets for 8x8's communications services, and we believe that many of 8x8's existing customers will benefit from the performance attributes and disruptive pricing of the Central Host offerings. We look forward to discussing the synergies and benefits of this acquisition during our fourth quarter and full-year results earnings conference call on May 19, 2010."
"Central Host is thrilled to join the 8x8 team," said Andy Schwabecher, Central Host's Founder and now General Manager of Managed Hosting and Cloud-Based Computing at 8x8, Inc. "8x8 runs one of the largest hosted business communication services in the world and is extremely successful in delivering one of the most critical and fundamental pieces of business infrastructure - communications services. By harnessing the strengths of this great team, I believe we have what we need to scale our cloud-based computing services to become the next major player in the managed hosting service market."
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