At the end of January, 8x8 reported that it had accumulated $16.2 million between cash and investments. So what's it going to do with all that loot?
Certainly some of it is salted away for a rainy day, but with an average of about $14 to $16 million in revenues per quarter, there's still a lot of margin available for an all-cash acquisition or two, depending on the price tag.
The harder task may be trying to unearth a good bargain in these times that fits 8x8's business focus - which is businesses. The company would most likely want to add on a service business/ITSP/ISP focused on SMBs that has a good balance sheet (forget inheriting someone else's bad business practices and debts) and a decent set of customers to add to the rolls. Not a lot of companies floating around that meet such criteria.
Related article
8x8 announces Q3 2009 results, adds cash [1]
Links:
[1] http://www.fiercevoip.com/story/8x8-announces-q3-2009-results-adds-cash/2009-01-30