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Twilio buying Segment for $3.2 billion is a 'transformational' move, according to analysts, who say it could help the ~$50 billion cloud communications firm take on giants like Salesforce and SAP

Twilio buying Segment for $3.2 billion is a 'transformational' move, according to analysts, who say it could help the ~$50 billion cloud communications firm take on giants like Salesforce and SAP

Twilio co-founder and CEO Jeff Lawson
Twilio




Cloud communications company Twilio announced Monday that it plans to acquire the startup Segment, which builds a platform to collect and analyze customer data.




Analysts say this acquisition shows that Twilio wants to become a leader in customer engagement, and this could help it take on competitors like Microsoft, Adobe, SAP, and Salesforce.




Twilio's stock price rose 6% on the news, giving it a market cap of about $50 billion, adding to its gains during the pandemic: At the beginning of March its value was about $14 billion.




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Analysts are crowing about Twilio's plan, announced Monday, to acquire the customer data analytics company Segment for $3.2 billion, because they say it could help the cloud communications company take on giants like Microsoft, Adobe, SAP, and Salesforce.Twilio has long been a hit with developers building apps that allow users to make phone calls or send text messages or emails within the app a?? for example, Uber and Lyft use Twilio to help drivers and passengers communicate. By buying Segment, the firm is diving into a the customer relationship management space. "This will help Twilio grow further," said Mizuho managing director Siti Panigrahi, who described the deal as "transformational." Overall, analysts agree that the acquisition, expected to close in the fourth quarter of the year, is a smart move for Twilio, because Segment would give it the ability to better understand its customers and make decisions based on this data. This would be Twilio's largest acquisition to-date (it previously acquired the email marketing platform SendGrid for $2 billion) and its stock price rose 6% following the news, giving it a market cap of nearly $50 billion.
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