NY-listed 8x8 pays US$125m for Singapore-based Wavecell

Singapore

WAVECELL, a privately held communications platform-as-a-service (CPaaS) provider based in Singapore, has been acquired by New York-listed 8x8 for around US$125 million in cash and stock, marking the US firm's entry into South-east Asia.

8x8 is a cloud provider of voice, video, chat and contact centre solutions for more than one million users worldwide, while Wavecell offers SMS, chat apps, video interaction and voice solutions to help businesses enhance their customer experience.

A CPaaS is a cloud-based platform that allows firms to add real-time communications features - such as chat, voice and video - to their own customer-facing applications, without having to build back-end infrastructure and int…