8x8 has acquired cloud-based communications technology provider Wavecell in a $125m cash and stock deal, allowing Telkom Indonesia's MDI Ventures to exit.
Communication software provider 8×8 has acquired Wavecell, a Singapore-based cloud communications platform backed by telecommunications group Telkom Indonesia, in a deal worth $125m, TechCrunch reported today.
The deal consisted of $69m in cash, with the remaining $56m provided as stock in 8×8.
Founded in 2010, Wavecell has developed a cloud-based platform that enables brands to integrate text messages, chat apps, video and voice applications into their customer service offerings.
The acquisition helps 8×8 gain a market presence in Asia, with…
