Leading provider of video, voice, chat, and contact centre solutions 8x8 recently announced their acquisition of CPaaS provider, Wavecell. The purchase (worth approximately $125 million) will provide 8x8 with an established platform in the CPaaS space, allowing them to grow their cloud-based portfolio, which already has pillars in the CCaaS and UCaaS environments.
The decision to buy Wavecell will significantly accelerate 8x8's continued growth in the cloud space, expanding its international presence and opening the door for new cloud communications opportunities. Additionally, the acquisition will help 8x8 to expand in the Southeast Asian market, where Wavecell already has a significant foothold.
Stepping into the CPaaS Market with Wavecell
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Vik Verma[/caption]
The purchase of Wavecell gives 8x8 the power to increase its impact on the cloud communications space, adding CPaaS to its portfolio for the first time. 8x8 will now have an even more impressive portfolio for its fully-owned end-to-end cloud communication platform.
Wavecell, launched in 2010, provides a complete CPaaS package, with a cloud-based API platform featuring chat applications, SMS, video interaction, and voice APIs to enable enterprise-critical applications like application-to-person messaging, multi-factor authentication and omnichannel customer journeys at scale.
Now that the market opportunity in CPaaS is growing at a rapid rate, the acquisition of Wavecell will ensure that 8x8 can quickly provide the services that customers want to users around the world. According to the CEO of 8x8, Vik Verma, the company is excited to be welcoming Wavecell into the 8x8 family, while they embrace a solution that gives them significant market presence around the world.
Offering Enterprise-Class APIs to Customers
With Wavecell, 8x8 will be able to dive head-first into the CPaaS environment, providing customers with enterprise-class APIs. These APIs will ensure that organisations in the 8x8 community can easily add real-time solutions for communication into their processes, including SMS, chat applications, video, and voice. The integration of a wide selection of APIs and data into a single platform for CPaaS gives customers of 8x8 a unique ability to engage with their end-users in an immersive omnichannel environment, where they can get an overview of the full customer journey.
Olivier Gerhardt[/caption]
