SG's Wavecell acquired by NYSE-listed cloud provider 8x8 for $125m

Wavecell, a Singapore-based communications platform-as-a-service (CPaaS) provider, has been acquired by NYSE-listed cloud provider 8×8 for $125 million in a cash and stock deal.

According to a statement, the $125-million figure represents a less than 4x multiple of Wavecell’s 2019 revenue. It comprises $69 million in cash and $56 million in 8×8 common stock, of which about $12 million of common stock is subject to certain vesting restrictions after a three-year period.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter