Featured Company News – 8X8 Partners with Softchoice

LONDON, UK / ACCESSWIRE / June 30, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for 8×8, Inc. (NASDAQ: EGHT), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=EGHT. The Company announced on June 28, 2017, that it will partner with Softchoice, a leading North American provider of IT solutions and managed services, to bring integrated, enterprise-grade cloud communications, contact center, and team collaboration solutions to midmarket and enterprise firms. Post this announcement, Softchoice will expand its cloud portfolio by selling 8X8’s industry-leading solutions and services in the United States and Canada. For immediate access to our complimentary reports, including today’s coverage, register for free now at: http://protraderdaily.com/register/.

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The Announcement

This collaboration between 8X8 and Softchoice highlights the joint focus to deliver the best-quality technology solutions and resources that may assist midmarket and enterprise firms, quickly solve their critical business needs, and eventually, accelerate revenue growth. According to Softchoice, the cloud provides Companies of all sizes with immense opportunity to increase productivity and profitability through improved business communication and collaboration. Softchoice finds 8X8’s offerings complementary to its portfolio and believes that working closely with 8X8 will enable its clients to unleash the potential of their employees and business.

8X8 views this agreement as a step to utilize Softchoice’s extensive scale, reach, and expertise in North America. Currently, with over 1,600 employees, Softchoice manages the technology needs of thousands of corporate and public sector organizations across the United States and Canada. 8X8 plans to deliver the best possible technology solutions at minimal ownership costs. The Company plans to work with Softchoice to manage some of the biggest enterprise collaboration and communications challenges viewed by the current business infrastructure.

Azure-8X8 Collaboration

8X8 is the provider of the world’s first Communications Cloud that combines unified communications, team collaboration, contact center, and analytics, under one single, open, and real-time platform. On June 05, 2017, Azure, the leading European vacation ownership specialist, selected 8X8 to replace its communications platform with integrated, enterprise-grade cloud solutions, namely 8X8 Virtual Office and 8X8 Virtual Contact Center.

Through this agreement, Azure planned to develop customer service solutions in its Malta-based head office, where the Company’s growing UK and Scandinavian membership is supported. This demand for 8X8’s cloud portfolio came on the heels of Azure’s planned expansion to boost its member base in Europe to include Germany, Norway, and Italy. Azure needed a robust communications platform that would allow it to scale its business rapidly, where the 8X8’s innovative communications cloud solutions fulfilled both requirements. The two-stage implementation is set to be completed by the end of 2017.

Other Agreements

The Company reported its full-year FY17 results, on May 25, 2017, with total service revenue of $235.8 million, a 23% increase YOY from full-year FY16. Also, the Company’s net cash generated from operating activities was $28 million in FY17 for the period ended March 31, 2017, against $24 million in FY16.

Prior to the Azure agreement, 8X8 announced on May 31, 2017, that Jenne, Inc., a leading value-added distributor of technology products and solutions, focusing on voice, video, data, networking, premise security and the cloud, has signed an agreement with the Company, pursuant to which Jenne will bring 8×8’s integrated, enterprise-grade cloud communications, contact center, and team collaboration solutions to mid-market and enterprise companies through a value-added distribution model.

Last Close Stock Review

On Thursday, June 29, 2017, the stock closed the trading session at $14.45, dropping 3.99% from its previous closing price of $15.05. A total volume of 465.34 thousand shares have exchanged hands. 8×8, Inc.’s stock price surged 5.86% in the last one month, 2.12% in the past six months, and 2.26% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 1.05%. The stock currently has a market cap of $1.32 billion.

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