Cloud communications provider Twilio is making its biggest acquisition to date. The company is paying $3.2 billion to acquire Segment, a customer data infrastructure company, in Twilio Class A stock. The deal is expected to close in quarter four of 2020.
Segment is a technology startup that allows organizations to get customer data from one app into another via APIs. Also, organizations can use the platform to manage customer data flow efficiently. They can also use it for marketing and other applications that benefit from customer identification and segmentation.
In a statement, Jeff Lawson, Twilio’s co-founder, and CEO says, Segment allows developers and companies to break down data silos and give a better understanding of their customers. Hence, with Twilio’s Customer Engagement Platform, they can create more personalized, timely, and impactful engagement across customer service, marketing, analytics, product, and sales.
Likewise, Twilio concurs, the deal can deliver a single, unified view that helps companies better understand their customers to engage more effectively.
“Together, Twilio and Segment have an incredible opportunity to build the customer engagement platform of the future,” says Peter Reinhardt, Segment’s co-founder, and CEO. He further says “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.”
The acquisition would boost Twilio’s growth with a combined total addressable market of $79 billion, taking Twilio one step closer to the company’s goal of being the world’s leading customer interaction network trusted by developers and companies worldwide.
