Cloud communications provider Twilio announced Monday that it is acquiring Segment, a customer data infrastructure company, for $ 3.2 billion Twilio Class A common stock
Twilio shares jumped more than 25% Stock also briefly hit an all-time high of $ 32268 per share
“Together, Twilio and Segment have an incredible opportunity to create the customer engagement platform of the future,” said Peter Reinhardt, Co-Founder and CEO of Segment “We created Segment to help companies stand out at digital age and deliver rich and connected customer experiences based on high quality data By joining forces and applying our customer data platform to Twilio’s engagement cloud, we will be able to make the entire customer experience seamless from end to end. »
The deal is expected to close in the fourth quarter of this year The segment was valued at $ 1.5 billion in April 2019, according to the Wall Street Journal
“The segment has grown like crazy, but what’s exciting for us is that we can accelerate our vision for five to ten years,” Reinhardt later told CNBC’s “Squawk Box”. / p>
Many cloud companies have seen gains this year as schools and businesses have had to rely on online services to keep people connected during coronavirus quarantines The BVP Nasdaq Emerging Cloud Index, which includes more of 50 publicly traded cloud software companies, is up 828% this year
Twilio stock was also torn apart It hit a 52-week high on Friday, rising to $ 310.64 per share The company’s shares have gained more than 211% since the start of the year
Earlier this month, Twilio said in a filing that he expected third-quarter revenue to exceed the $ 401-406 million range he provided in August, boosting its stock Analysts polled by Refinitiv expected third quarter revenue of $ 407 million
The Segment deal is Twilio’s second major acquisition It acquired SendGrid, which offers businesses a cloud service for sending large-scale emails, for $ 2 billion in February 2018
Data is a real-time snapshot * Data is delayed by at least 15 minutes Global business and financial news, stock quotes and market data and analysis
Twilio, Cloud computing, Stock, NYSE: TWLO
Global news – United States – Twilio stock climbs to $ 3 Acquisition of 2 billion segments
