Miguel Cordon · · 1 min readUS-based 8×8 acquires Singapore cloud platform Wavecell in $125m deal
Cloud communication provider 8×8 has acquired privately held Wavecell, a Singapore-based communication platform-as-a-service (CPaaS) company, for roughly US$125 million in cash and stock.
The Wavecell team / Photo credit: Wavecell
The acquisition enables 8×8 to tap into Wavecell’s technology to pursue the CPaaS market globally and leverage on Wavecell’s research and development center in Asia.
It also allows 8×8 to foray into Southeast Asia – particularly Singapore, Indonesia, the Philippines, and Thailand – where Wavecell has more than 500 enterprise customers. Those customers include Paidy, Lalamove, and Tokopedia.
The deal will also extend 8×8’s cloud platform to include service delivery capabilities and application programming interfaces for SMS, chat apps, voice, and video.
Editing by Charmaine de Lazo
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