Cloud companies booming during the pandemic, which was not expected by most the OEMs, on the golden times to come so fast. Cloud communications business Twilio has agreed to acquire customer data infrastructure company Segment for $3.2 billion.
Segment and its CEO Peter Reinhardt didn’t respond to requests for comment. A Twilio spokesperson said the company couldn’t comment “on any rumors or speculation.”
Twilio, which trades at a market capitalization of more than $45 billion, went public in June 2016 on the strength of communications infrastructure that allows businesses to reach their customers through text messages, voice and video calls. The company counts the likes of the American Red Cross, delivery unicorn Deliveroo and bank ING as customers.as per Forbes.
The acquisition comes almost two years to the date after Twilio announced it would acquire API provider SendGrid for $2 billion in stock. By the time the deal closed in January 2019, with the help of a fateful breakfast burrito, that value was about $3 billion. Twilio shares are up about 146% since then, as Twilio has proven a strong performer on the public markets.
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