Twilio Stock Climbs on Acquisition of Segment for $3.2 Billion
Twilio (NYSE: TWLO) announced on Monday that it would acquire cloud-based Segment -- a start-up that helps businesses move customer information between apps while better protecting and controlling the data -- in a $3.2 billion all-stock deal. The boards of directors of both companies have approved the deal, which is expected to close in the fourth quarter.
Investors recognized the potential synergies of the combination, bidding Twilio's shares up more than 5%, as of this writing, following the announcement.
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Source Fool.com
