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. The tech stock was down by 10.6% as of 3:20 p.m. ET.
8x8 said that the purchase of Fuze will cost approximately $250 million in stock and cash. The acquisition is expected to close during the fiscal fourth quarter.
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Source Fool.com