Yes, it's ACS (Azure Communication Service).
Just to clarify, as summarizing points:
1.I need to have the phone number associated with an WhatsApp Business account, right?
You do not need to create the WhatsApp Business Account in advance. The WhatsApp Business account will be created after they complete the Embedded Signup. (The part from step 7 onwards in the document link above.)
Register WhatsApp business account
You need to make sure that you can receive SMS or phone call for that phone number. You need to receive a One-Time Passcode during the embedded signup. Once you complete the embedded signup, a WhatsApp Business account will be created under your Meta Business Manager account.
2.I have a dedicated WhatsApp business number and SIM
Is this number already used for a normal WhatsApp Account, WhatsApp Business App or a WhatsApp Business Account? (just to highlight that they are different)
Please check this Facebook doc, requirement here
Numbers already in use with the WhatsApp Messenger app or WhatsApp Business app cannot be registered unless they are deleted first
If the phone number is already used for a WhatsApp Business Account (WABA), then you can do a migration'. During the embedded signup, you could select "create a new WhatsApp Business Account", but in next step using the old phone number. As a result, a new WABA will be created and shared with ACS and the old phone number will be migrated to the newly created WABA.
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