Twilio, an American cloud communications platform, announced buying Segment for $3.2 billion. According to its CEO, Jeff Lawson the acquisition will accelerate its customer engagement vision.
While Segment is also a cloud platform, it is more a customer-focused company. Lawson says that Segment’s tech will help Twilio to better manage its data in a way that allows it better serve their customers.
“These data silos are the enemy. They destroy customer relationships by causing awful customer service and irrelevant and annoying marketing experiences. I faced this challenge at each of the four companies I founded and as a software developer,” Jeff Lawson wrote.
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The CEO adds that Twilio’s vision is more than providing a communication platform, it wants end-to-end customer engagements as well. Segment has been providing a data platform that its new parent company will need to power 1 trillion interactions per year.
The new data-focused approach will give Twilio the needed tools such as analytics, product and customer service, and better end-to-end customer experience. This will make the platform a hot client for many companies.
Businesses can turn to Twilio for help in personalising customer engagement across their platforms. Additionally, the two companies have many things in common. Their vision of driving meaningful customer engagement is one and their model of empowering developers is another. The two CEOs, Segment’s Peter Reinhardt and Twilio’s Jeff Lawson are also both lifelong developers.
According to a press release, Twilio will acquire Segment for approximately $3.2 billion in Twilio Class A stock, and Segment will become a division of Twilio. This big money acquisition in the cloud industry is significant. It shows the growing popularity of cloud technology.
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