Craig-Hallum sees ‘tremendous logic’ in RingCentral, 8×8 combination

Craig-Hallum analyst George Sutton said he has "long considered the Unified Communications market as one that needs to consolidate" and in that context he believes that RingCentral (RNG) and 8×8 (EGHT) would "make great sense together." In Sutton’s view, the market opportunity for both businesses continues to be significant given that "only" 21M seats out of about 400M have moved to the cloud and the economics of such a hypothetical deal "should be outstanding for RingCentral as a buyer and for 8×8 as a seller." Sutton has Buy ratings on both stocks.