SAN JOSE, Calif.–(BUSINESS WIRE)–8×8, Inc. (NYSE: EGHT), a leading cloud provider of voice, video, chat and contact center solutions for over one million users worldwide, today announced the acquisition of privately-held Wavecell Pte. Ltd., a Singapore-based global Communications Platform-as-a-Service (CPaaS) provider, for approximately USD $125 million in cash and stock. 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 market opportunity in CPaaS is growing rapidly, and this acquisition enables us to quickly provide these services to our customers around the world”
Wavecell is expected to further accelerate 8×8’s growth, expand its international presence, and deepen the company’s technology capabilities in cloud communications. The acquisition expands 8×8’s presence into the rapidly growing Southeast Asian market, including Singapore, Indonesia, Philippines, Thailand, and Hong Kong, with a talented employee base and more than 500 enterprise customers, including Paidy, Tokopedia and Lalamove. Wavecell also brings an R&D center in Asia which allows 8×8 to further accelerate growth in product innovation and delivery. […]