NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Twilio to buy cloud customer data startup Segment for $3.2 billion

Published 2020-10-12, 07:45 a/m
© Reuters. A banner for communications software provider Twilio Inc., hangs on the facade at the NYSE to celebrate the company's IPO in New York City
TWLO
-

(Reuters) - Cloud communications platform provider Twilio Inc (N:TWLO) said on Monday it would buy customer data platform Segment for $3.2 billion in an all-stock deal.

Twilio's shares rose more than 9% to $335 in premarket trading.

The announcement of the deal, expected to close in the fourth quarter of Twilio's fiscal 2020, comes after the company estimated third-quarter sales above its previous forecast earlier this month.

Cloud companies have seen a surge in demand this year as more businesses use their services to meet the demands of the switch to work from home due to the COVID-19 pandemic.

Following the deal, Segment will become a part of Twilio.

© Reuters. A banner for communications software provider Twilio Inc., hangs on the facade at the NYSE to celebrate the company's IPO in New York City

Morgan Stanley (NYSE:MS) & Co LLC was Twilio's financial adviser, while Cooley LLP was its legal adviser. Qatalyst Partners was Segment's financial adviser and Goodwin Procter LLP acted as its legal adviser.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.