Twilio to Buy Customer Data Platform Segment

US-based cloud communications platform Twilio has agreed to acquire customer data platform Segment for approximately $3.2 billion in Twilio Class A common stock.

Founded in 2012, Segment provides a suite of products for customer data management, automatically collecting and integrating data, and sending it on to hundreds of analytics and marketing tools. Businesses can also use Segment to combine their web site and mobile data with data from additional customer touch points, in order to create a complete picture of their customers.

According to Twilio, the acquisition will support its journey to build a customer engagement platform which will provide businesses with a unified view, helping them better understand and engage with their customers. Segment will become a division of Twilio, and the transaction is expected to close during the fourth quarter of Twilio's fiscal 2020, ending December 31, 2020.

Peter Reinhardt (pictured), Segment's co-founder and CEO, comments: '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.'

Web sites: www.twilio.com and www.segment.com .