San Francisco, CA, USA, Oct 12, 2020 -- Twilio (NYSE: TWLO) announced that it has entered into a definitive agreement to acquire Segment in Twilio Class A common stock, on a fully diluted and cash free, debt free basis. The transaction is expected to close in the fourth quarter of 2020.
"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."
The businesses that deliver the best experiences are the ones that know their customers well and use customer data to provide more relevant interactions. However, wrangling these customer insights is extremely difficult as the information is typically spread across disparate systems and functions throughout an organization. By combining the market providers in the cloud communication and customer data platform (CDP) spaces, Twilio can now alleviate this pain for businesses by delivering a single, unified view that helps companies better understand their customers in order 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."
Posted by Veronica Silva Cusi, news correspondent
Create and scale voice, VoIP and SMS text messaging applications with a cloud platform.
Segment provides the customer data infrastructure that businesses use to put their customers first. With Segment, companies can collect, unify, and connect their first-party data to over 250 marketing, analytics, and data warehousing tools. Today, thousands of companies across 71 countries use Segment, from fast-growing businesses such as Atlassian, Bonobos and Instacart to some of the world’s largest organizations like Levi’s, Intuit and Meredith. Segment enables these companies to achieve a common understanding of their users and make customer-centric decisions.
Published: Wednesday, October 14, 2020
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