Twilio Inc., a customer communications platform provider, has announced it will acquire Customer Data Platform (CDP) startup Segment Inc. Twilio acquired the company for $3.2 billion in Twilio Class A common stock. As a result of the deal, Segment will become a division of Twilio. The boards of directors of Twilio and Segment have each approved the transaction and the deal is expected to close in the fourth quarter of this year.
Because of the deal, Twilio saw a jump in its stocks early in the week. Shares of Twilio closed up 7.7%, after jumping more than 8%. The stock also reached an all-time high of $331.71 per share.
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Segment being a part of Twilio means Twilio can help businesses personalize their customer engagement across every ch...