Twilio (NYSE: TWLO) reported entry into a definitive agreement to acquire Segment for USD 3.2 Billion in Twilio Class A Common stock on a fully diluted and debt free, cash free basis. The transaction is anticipated to close in the fourth quarter of 2020. Segment utilizes its customer data platform to democratize access to reliable data for all teams and offers a complete toolkit to standardize data collection, unify user records and route customer data where required.
“Data silos destroy great customer experiences,” said Jeff Lawson, co-founder and CEO of Twilio. “Segment lets developers and companies break down those silos and build a complete picture of their customer. Combined with Twilio’s Customer Engagement Platform, we can create more personalized, timely and impactful engagement across customer service, marketing, analytics, product and sales. We are thrilled to welcome Segment to the Twilio team.”
By utilizing customer insights to provide more relevant interactions, disparate systems and functions throughout an organization may be solved through Segment’s customer data platform. Twilio may now provide businesses with a single unified view to aid clients understand their own customers to engage more effectively. “Together, Twilio and Segment have an incredible opportunity to build the customer engagement platform of the future,” said Peter Reinhardt, Segment’s co-founder and CEO. “We created Segment to help businesses set themselves apart in the digital age and deliver rich, connected customer experiences built on high-quality data. By joining forces and applying our customer data platform to Twilio’s engagement cloud, we’ll be able to make the entire customer experience seamless from end-to-end.”