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Wavecell, a cloud communication platform for Southeast Asian companies, today announced that it has been acquired by 8×8 for approximately $ 125 million. The acquisition will help 8×8 based in San Jose, California, grow in Asia, where Wavecell already has offices in Singapore, Indonesia, the Philippines, Thailand and Hong Kong.
Wavecell's cloud API platform, which includes SMS, chat, video and voicemail, is used by companies such as Paidy, Lalamove and Tokopedia. It maintains relationships with 192 network operators and partners such as WhatsApp and claims that its infrastructure is used to share more than two billion messages each year.
The terms of the agreement include $ 69 million of cash and approximately $ 56 million of 8 × 8 common shares. Founded in 2010, Wavecell's investors included Qualgro VC, Wavemaker Partners and MDI Ventures.
In a prepared statement, Vik Verma, CEO of 8 × 8, said: "8 × 8 is now the only cloud provider to own the complete technology stack, globally, in cloud, offering voice technology , video, messaging and contact center pre-packaged applications and as a business-clbad API. We are delighted to welcome Wavecell employees into the 8×8 family. We now have a significant presence in the Asian market and plan to continue to grow in the region and around the world to meet the ever-changing needs of our clients. "
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