8x8 acquires Singapore's Wavecell for CPaaS

8x8, which now claims over 1 million users for its cloud-based voice, video, chat and contact center solutions, has acquired privately-held Wavecell Pte. Ltd., a Singapore-based global Communications Platform-as-a-Service (CPaaS) provider. The purchase price was approximately USD $125 million in cash and stock.

Founded in 2010, Wavecell offers a CPaaS solution including a cloud-first API platform with SMS, chat apps, video interaction and voice APIs that enable mission-critical enterprise applications such as Application-to-Person (A2P) messaging, omnichannel customer journeys and multi-factor authentication at scale.

8x8 said the acquisition provides it with an established technology platform and high-growth revenue business to pursue CPaaS globally and represents a natural expansion of 8x8’s cloud business from Unified Communications-as-a-Service (UCaaS), Contact Center-as-a-Service (CCaaS), and Video into the CPaaS market.

“We are delighted to become part of 8x8, one of the world’s leading cloud communications platforms. Now is the right time to leverage the global expansion of UCaaS, CCaaS and CPaaS services to better serve our customers’ growing demand for communication services and to continually drive greater innovation”