Southeast Asian cloud communications platform Wavecell acquired by 8×8 in deal worth $125 million
Wavecell, a cloud-communications platform for firms in Southeast Asia, introduced in the present day that it has been acquired by 8×8 in a deal worth about $125 million. The acquisition will assist San Jose, California-based 8×Eight broaden in Asia, the place Wavecell already has places of work in Singapore, Indonesia, the Philippines, Thailand and Hong Kong.
Wavecell’s cloud API platform, which incorporates SMS, chat, video and voice messaging, is utilized by firms resembling Paidy, Lalamove and Tokopedia. It has relationships with 192 community operators and companions like WhatsApp and claims its infrastructure is used to share greater than two billion messages every year.
The phrases of the deal consists of $69 million in money and about $56 million in 8×Eight widespread shares. Based in 2010, Wavecell’s traders included Qualgro VC, Wavemaker Companions and MDI Ventures.
In a ready assertion, 8×Eight CEO Vik Verma mentioned “8×8 is now the only cloud provider that owns the full, global-scale, cloud-native, technology stack offering voice, video, messaging, and contact center delivered both as pre-packaged applications and as enterprise-class APIs. We’re excited to welcome the Wavecell employees to the 8×8 family. We now have a significant market presence in Asia and expect to continue to expand in the region and globally in order to meet evolving customer requirements.”