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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, announced that the committee has been acquired by 8×8 in a deal worth about $125 million. The acquisition will help San Jose, California-based 8×8 expand in Asia, where Wavecell once has agencies in Singapore, Indonesia, the Philippines, Thailand and Hong Kong.

Wavecell’s cloud API platform, which includes SMS, chat, video and expres messaging, exploited by fellowships such as Paidy, Lalamove and Tokopedia. It has the relations with 192 system operators and spouses like WhatsApp and claims its infrastructure is used to share more than two billion themes each year.

The periods of the deal includes $ 69 million in money and about $56 million in 8×8 common shares. Founded in 2010, Wavecell’s investors included Qualgro VC, Wavemaker Spouse and MDI Ventures.

In a developed statement, 8×8 CEO Vik Verma said “8x 8 is now the only vapour provider that owns the full, global-scale, cloud-native, technology stack provide tone, video, messaging, and contact core delivered both as pre-packaged employments and as enterprise-class APIs. We’re aroused to welcome the Wavecell employees to the 8×8 category. 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.”

Read more: techcrunch.com

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