In a deal estimated to be worth $3.2 billion in Twilio Class A common stock, Twilio’s pending acquisition of customer data platform Segment will facilitate an aim to deliver more complete customer visibility.
Customer service, marketing, sales, product and analytics have been cited as key focal points in the lead up to the deal’s completion, which is expected to materialise in Q4 2020.
By leveraging Segment’s capabilities, end users can look to overcome the problem of data silos to take advantage of a unified customer profile.
— twilio (@twilio) October 12, 2020
With consumer demands evolving during the Covid-19 pandemic, organisations are looking to gain a clearer understanding of how to meet these needs.
As a result of the deal, which is predicted to accelerate Twilio’s growth with a combined total addressable market of $79 billion, Segment will become a division of Twilio.
Exploring the growing use of IT in B2B customer experience projects
“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 personalised, timely and impactful engagement across customer service, marketing, analytics, product and sales. We are thrilled to welcome Segment to the Twilio team.”
Peter Reinhardt, co-founder and CEO of Segment, commented: “Together, Twilio and Segment have an incredible opportunity to build the customer engagement platform of the future.
“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.”