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Southeast Asian cloud communications platform Wavecell acquired by 8×8 in deal worth $125 million

July 18, 2019 / Catherine Shu
SHARESHARESHARE

Wavecell, a cloud-communications platform for companies in Southeast Asia, announced today that it has been acquired by 8×8 in a deal worth about $125 million. The acquisition will help San Jose, Calif.-based 8×8 expand in Asia, where Wavecell  already has offices in Singapore, Indonesia, the Philippines, Thailand and Hong Kong.Wavecells cloud API platform, which includes SMS, chat, video and voice messaging, is used by companies such as Paidy, Lalamove and Tokopedia. It has relationships with 192 network operators and partners like WhatsApp and claims its infrastructure is used to share more than two billion messages each year.
The terms of the deal includes $69 million in cash and about $56 million in 8×8 common shares. Founded in 2010, Wavecells investors included Qualgro VC, Wavemaker Partners and MDI Ventures.