Cloud communications platform provider Twilio Inc said on Monday it would buy customer data platform Segment for $3.2 billion in an all-stock deal.
FILE PHOTO: A banner for communications software provider Twilio Inc., hangs on the facade of the New York Stock Exchange to celebrate the company's IPO in New York City, U.S., June 23, 2016. REUTERS/Brendan McDermidsaid on Monday it would buy customer data platform Segment for $3.2 billion in an all-stock deal.
Cloud companies have seen a surge in demand this year as more businesses use their services to meet the demands of the switch to work from home due to the COVID-19 pandemic.Morgan Stanley & Co LLC was Twilio’s financial adviser, while Cooley LLP was its legal adviser. Qatalyst Partners was Segment’s financial adviser and Goodwin Procter LLP acted as its legal adviser.
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