Cloud communications company Twilio has acquired SendGrid for about 2 billion dollars, reports Silicon Angle. SendGrid offers cloud email services. Twilio offered 0.485 shares per SendGrid share, valuing the company at $36.92 per share.
SendGrid was founded in 2009 and went public last November in New York. At the IPO, shares were offered for USD 16 each, but after that the price continued to rise. This month, the shares peaked at $38.66 per share, after which the price dropped slightly to $30 per share.
After the acquisition, SendGrid will provide support for cloud email, which will complement Twilio’s existing communication software. Twilio now offers popular voice-over-IP features, among other things. “Adding the leading email API platform to the best cloud communications platform can bring tremendous value to all of our customers,” said the companies.
“The resulting company provides developers with a single, best-in-class platform to manage all their key communication channels – voice, messaging, video and now email. Together, the companies send over half a trillion customer interactions a year, and they continue to grow rapidly.”
“Our customers are increasingly asking us to solve all their strategic communication challenges – regardless of the channel. Email is an important communication channel for companies around the world, so it was important for us to put this opportunity in our platform,” said Jeff Lawson, CEO of Twilio, opposite CNBC.
Following the announcement of the acquisition, the value of the company’s shares decreased by 4 percent. SendGrid’s shares increased by 15 percent. The acquisition is expected to be completed in the first half of 2019.This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.