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Twilio, the ubiquitous communications platform, today announced its intention to acquire the API-based SendGrid e-mail platform for an amount of about $ 2 billion. , in the context of a transaction entirely in shares. This is the largest acquisition of Twilio to date, but also very logical since both companies seek to facilitate the creation of communication platforms for developers.
"Both companies share the same vision, the same model and the same values," said Twilio. co-founder and CEO Jeff Lawson in today's announcement. "We believe that it is a unique opportunity to combine the two main developer-oriented communication platforms to create the platform of unchallenged choice for all of us." companies seeking to transform their customer engagement. "
SendGrid will become a wholly-owned subsidiary of Twilio and its common shares will be converted into Twilio shares. The companies expect that the acquisition will be closed in the first half of 2019, after its clearance by the authorities.
Twilio's current interest is omni-channel communication, and email is obviously a major element. And although it offers many services around voice, video and chat, email has not been taken into account in the same way. This acquisition now allows him to quickly develop expertise in this area and expand its services.
SendGrid became public in 2017. At that time, its shares were priced at $ 16. Today, before the announcement, the company was trading at just under $ 31, although its price has skyrocketed after the publication of the announcement. This remains down from a high of more than $ 36.5 last month, but this is in line with the general market movement of recent weeks.
Today's announcement comes shortly before Twilio's annual developer conference. So I think we'll learn more about his plans for SendGrid later this week.
We asked Twilio for more details about its plans for SendGrid after the closing of the acquisition. We will update this post when we hear more.
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