8×8, Inc., a well-known cloud provider of video, voice, chat and contact center solutions for more than one million users all over the world, today revealed their acquisition of privately-held Wavecell Pte. Ltd., a Singapore-based global Communications Platform-as-a-Service (CPaaS) provider. The acquisition cost about USD $125 million in cash and stock. The acquisition gives 8×8 an established technology platform as well as a high-growth revenue business to work on CPaaS globally and stand for a natural expansion of 8×8’s cloud business from Unified Communications-as-a-Service (UCaaS), Video into the CPaaS market and Contact Center-as-a-Service (CCaaS).
Wavecell is forseen to accelerate 8×8’s growth even more, expand its international presence, and strengthen the company’s technology abilities in cloud communications. The acquisition extends 8×8’s presence into the rapidly evolving Southeast Asian market, which includes Indonesia, Singapore, Thailand, Philippines, and Hong Kong, with a employee base which is talented as well as over 500 enterprise customers, whuch includes Tokopedia, Paidy, and Lalamove. Wavecell also draws an R&D center in Asia which allows 8×8 to accelerate growth in product innovation and delivery even better.
By the virtue of acquiring Wavecell, 8×8:
- Improves its addressable market to include CPaaS. 8×8 gains a large scale, widely recognized platform for supplying messaging, SMS, voice, and video APIs all over the world to enterprises as well as developers.
- Improves the only entirely-owned end-to-end cloud communications platform. 8×8 extends its API offerings, allowing it to exist as the only cloud provider with the ability to natively provide both video solutions, pre-packaged contact center, communications as well as open APIs to drive communications into the core business processes of an organization.
- Extend its global presence and coverage. 8×8 improves its marketing, sales and support presence all through the Asia Pacific region, which includes local offices in five Asian countries.