8X8 INC /DE/ acquired Wavecell Pte. Ltd. for approximately $125 million (cash and stock), a transaction completed in July 2019, structured as cash and stock.
Wavecell Pte. Ltd. operates in CPaaS / cloud communications APIs, is based in Singapore (Asia-Pacific). Wavecell was a Singapore-based communications-platform-as-a-service (CPaaS) provider offering programmable messaging (SMS), voice, video and chat APIs, with a strong presence across APAC and EMEA. 8x8 acquired all outstanding equity of Wavecell under a Share Purchase Agreement for total consideration of about $125 million in cash and stock, issuing 2,628,761 shares (including time- and performance-vesting shares for employee retention); Wavecell became a wholly owned subsidiary.
Add embeddable CPaaS/messaging APIs and expand 8x8's international footprint in Asia-Pacific, complementing its UCaaS and CCaaS offerings on a single global cloud platform.
Integrated as 8x8's CPaaS/API capability
Advisory firms were not disclosed for this transaction.