The acquisition provides 8x8 with an established technology platform and a high-growth revenue business to pursue CPaaS globally, 8x8 said in a press statement on Thursday.
8x8 expects the Wavecell business to quicken 8x8’s revenue growth rate and have a minimal impact on its full-year fiscal 2020 non-GAAP pre-tax loss. It comprises about US$69 million in cash and US$56 million in 8x8 common stock, of which some US$12 million of common stock is subject to certain vesting restrictions over a three-year period.Vik Verma, chief executive of 8x8, said: “8x8 is now the only cloud provider that owns the full global-scale, cloud-native, technology stack offering voice, video, messaging and contact centre delivered as pre-packaged applications and enterprise-class APIs.
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