8×8 acquires Wavecell for $125 million

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8×8, a cloud provider of voice, video, chat and contact center solutions, has acquired privately-held Wavecell, a Singapore-based global Communications Platform-as-a-Service (CPaaS) provider, for approximately $125 million.

The acquisition provides 8×8 with an established technology platform and high-growth revenue business to pursue CPaaS globally and represents a natural expansion of 8×8’s cloud business from Unified Communications-as-a-Service (UCaaS), Contact Center-as-a-Service (CCaaS), and Video into the CPaaS market, the 8×8 said in a statement.

The acquisition expands 8×8’s presence into the Southeast Asian market, including Singapore, Indonesia, Philippines, Thailand, and Hong Kong, with an employee base and more than 500 enterprise customers, including Paidy, Tokopedia and Lalamove. Wavecell also brings an R&D center in Asia for 8×8.

Founded in 2010, Wavecell offers CPaaS solutions including an API platform with SMS, chat apps, video interaction and voice APIs.

[Image courtesy: Wavecell]