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June 15, 2011

Cloud Computing Leader 8x8 to Join Russell 3000 Index

By Anil Sharma, TMCnet Contributor


8x8 (News - Alert), a provider of business communications and cloud computing solutions, is set to join the U.S. broad-market Russell 3000 Index.

Russell Investments will reconstitute its comprehensive set of U.S. and global equity indexes on June 24, according to a preliminary list of additions that has been posted.

"The inclusion of 8x8 in the Russell 3000 Index will expose our company's stock and our innovative technology to a wider audience of investors, ultimately benefiting our shareholders," said Bryan Martin (News - Alert), chairman & CEO of 8x8, in a statement.

Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. A subsidiary of The Northwestern Mutual Life Insurance Company, Russell has about $161 billion in assets under management as of March 31, 2011, and serves individual, institutional and advisor clients in more than 35 countries.

Officials with Russell said that annual reconstitution of Russell's U.S. indexes, captures and ranks the 4,000 largest U.S. stocks as of the end of May by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes.

Company officials said that Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. The Russell 3000 also serves as the U.S. component to the Russell Global Index.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies.

Back in April, Infobright, the open source analytic database company, announced that 8x8 deployed a powerful, integrated business intelligence (BI) solution that runs on the Infobright Enterprise Edition (IEE) analytic database.

Using IEE in conjunction with ETL and reporting tools from open source BI provider Pentaho, 8x8 has been able to combine multiple sources of critical business data into a single engine for integrated analysis.

Want to learn more about cloud communications? Then be sure to attend the Cloud Communications Summit, collocated with TMC’s (News - Alert) ITEXPO West 2011, taking place Sept. 13-15, 2011, in Austin, Texas. The Cloud Communications Summit will address a growing need of businesses to integrate and leverage cloud based communications applications, process enhancement techniques, and network based communications interfaces and architectures. To register, click here.


Anil Sharma is a contributing editor for TMCnet. To read more of his articles, please visit his columnist page.

Edited by Carrie Schmelkin