Twilio Inc., which is a cloud communications firms today in a report has announced that they have acquired the SendGrid, which is a cloud service email provider for an amount of $2 billion.
Twilio provides 0.485 shares for each share of the SendGrid stock, which makes it valuation as $36.92 per share, which is also a 19 percent premium over its closing price today.
The company which is founded in the year 2009, has made it stocks public on the New York Stock Exchange in the month of November 2017. Starting at an initial public offering of $16 per share, the stock starts rising and hits the average of $38.66 by the starting of this month.
For the Twilio, SendGrid, Whose CEO is Sameer Dholakia bring out the cloud email support to complement out the Twilio existing communication software which also includes its popular Voice Over IP features and some of the others as well.
“With the adding of the leading email API platform to the leading cloud communications platform can drive tremendous value to the combined customer bases,” the companies said in a statement. “The resulting company would offer developers a single, best-in-class platform to manage all of their important communication channels — voice, messaging, video, and now email as well. Together, the companies currently drive more than half a trillion customer interactions annualized and growing rapidly.”
The deal will bring even much more momentum to a company as described as “One of the Wall Street’s darlings” given its solid growth profitability, which is also a rare feature among all the tech startups and a product offering that is much well liked.
“Twilio keeps growing, as enterprises are building their next-generation applications that include capabilities related to communications,” Holger Mueller, principal analyst and vice president of Constellation Research Inc., told in a report in August. “This shows communications platform-as-a-service market is rapidly becoming an important segment with significant live customers and revenues.” According to the report which has been revealed, Twilio stock has already far outpaced the overall market capacity so far this year, with the share prices more than the 220%.
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