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Twilio is making its acquisition of fellow cloud computing company Segment official.

San Francisco-based Twilio announced early on Monday that it had signed a definitive agreement to acquire Segment for $3.2 billion in an all-stock deal. The deal is expected to close in Twilio’s fourth fiscal quarter, the company said.

Forbes first broke the news of the pending acquisition on Friday.

In a joint interview with Forbes on Sunday night, Twilio CEO Jeff Lawson described the deal as the next step for a service that’s spent the last decade-plus “taking communications and breaking it down into building blocks” for developers to reach their own business’ customers.

“Communications was just the entry point for the real opportunity, which has been really providing a comprehensive platform for customer engagement,” Lawson said. “The one thing that’s always

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Twilio  (TWLO) – Get Report shares rose Monday after the cloud-communications platform said it would buy customer-data platform Segment for $3.2 billion of stock.

Twilio shares recently traded at $322.79, up 5.4%. They had more than tripled year to date through Friday.

“Data silos destroy great customer experiences,” Jeff Lawson, co-founder and chief executive of the San Francisco company, said in a statement.

Closely held Segment, also San Francisco, “lets developers and companies break down those silos and build” complete pictures of customers. 

“Combined with Twilio’s customer engagement platform, we can create more personalized, timely and impactful engagement across customer service, marketing, analytics, product and sales,” he said.

“The businesses that deliver the best experiences are the ones that know their customers well and use customer data to provide more relevant interactions,” Twilio said.

“However, wrangling these customer insights is extremely difficult as the information is typically spread

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Sources have told TechCrunch that Twilio intends to acquire customer data startup Segment for between $3 and $4 billion. Forbes broke the story on Friday night, reporting a price tag of $3.2 billion.

We have heard from a couple of industry sources that the deal is in the works and could be announced as early as Monday.

Twilio and Segment are both API companies. That means they create an easy way for developers to tap into a specific type of functionality without writing a lot of code. As I wrote in a 2017 article on Segment, it provides a set of APIs to pull together customer data from a variety of sources:

Segment has made a name for itself by providing a set of APIs that enable it to gather data about a customer from a variety of sources like your CRM tool, customer service application and website and pull

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FILE PHOTO: A banner for communications software provider Twilio Inc., hangs on the facade of the New York Stock Exchange (NYSE) to celebrate the company’s IPO in New York City, U.S., June 23, 2016. REUTERS/Brendan McDermid

(Reuters) – Cloud communications platform provider Twilio Inc TWLO.N plans to buy customer data infrastructure company Segment for $3.2 billion, Forbes reported on Friday.

The deal, which had not been finalized as of Friday afternoon, was expected to be at least partially based on Twilio stock, the report added, citing two sources it did not name.

San Francisco-based Segment has recently been open to acquisition offers, according to the report.

Twilio declined to comment to Reuters. Segment was not immediately available for comment outside regular business hours.

Segment raised $175 million in a Series D funding round in April 2019. The startup said in September that it worked with more than 20,000 businesses including

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a man sitting on a leather couch: Jeff Lawson, co-founder and CEO of Twilio, launched his business during the recession. (Photo by Steve Jennings/Getty Images for TechCrunch)


© (Photo by Steve Jennings/Getty Images for TechCrunch)
Jeff Lawson, co-founder and CEO of Twilio, launched his business during the recession. (Photo by Steve Jennings/Getty Images for TechCrunch)

  • Cloud communications company Twilio is set to acquire data startup Segment for $3.2 billion, sources tell Forbes, though a deal is not yet final.
  • Twilio has emerged as a winner in the pandemic economy, with its stock price just about tripling since the beginning of the year. The company now commands a market cap of over $45 billion.
  • Segment was last valued at $1.5 billion in an April 2019 funding round, and counts Accel, Y Combinator, and Alphabet’s GV (formerly Google Ventures) among its investors.
  • Segment laid off 10% of its staff in May, in anticipation of a tougher IT spending environment amid the pandemic. However, the company indicated in September that it now has over 20,000 customers — up from 19,000
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With cloud companies booming during the pandemic, one of the category’s recent public-company success stories is set to make a splash by spending billions to acquire one of its up-and-comers.

Cloud communications business Twilio has agreed to acquire customer data infrastructure company Segment for $3.2 billion, two sources tells Forbes. The deal which was not yet finalized as of Friday afternoon, is expected to be at least partially based on Twilio stock.

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

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