Twilio has announced it is acquiring Segment, a leading customer data platform.
Like many communication companies, Twilio has experienced significant growth during the pandemic. The company’s APIs make it easy for developers to add voice, text, video, chat and email communication to their services and products.
The acquisition of Segment will help companies better know their customers and use data to build a complete profile. This, in turn, will help them better meet their customers’ needs.
“Data silos destroy great customer experiences,” said Jeff Lawson, co-founder and CEO of Twilio. “Segment lets developers and companies break down those silos and build a complete picture of their customer. Combined with Twilio’s Customer Engagement Platform, we can create more personalized, timely and impactful engagement across customer service, marketing, analytics, product and sales. We are thrilled to welcome Segment to the Twilio team.”
“Together, Twilio and Segment have an incredible opportunity to build the customer engagement platform of the future,” said Peter Reinhardt, Segment’s co-founder and CEO. “We created Segment to help businesses set themselves apart in the digital age and deliver rich, connected customer experiences built on high-quality data. By joining forces and applying our customer data platform to Twilio’s engagement cloud, we’ll be able to make the entire customer experience seamless from end-to-end.”
The deal is an all-stock deal worth approximately $3.2 billion and is expected to close Q4 2020.