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Home / Business / Twilio buys SendGrid for $ 2 billion to expand its automated e-mail services

Twilio buys SendGrid for $ 2 billion to expand its automated e-mail services



Twilio Inc., a software vendor, will purchase SendGrid Inc. for $ 2 billion in an all-stock transaction to expand its suite of communications tools.

Twilio (Twlo) will offer .485 shares for every share of SendGrid (Submit) stock, which estimates it at $ 36.92 a share, companies said Monday in a statement. That's a 19% premium on SendGrid's Monday closing price of $ 30.93.

Twilio is a San Francisco-based cloud computing company that helps companies communicate with their customers through a variety of methods including telephone and text messaging. Clients include Uber Technologies Inc. Denver-based SendGrid provides automated e-mail services and a market value of $ 1

.4 billion.

"Our customers are increasingly challenging us to solve all their strategic communication challenges." Twilio Chief Executive Officer Jeff Lawson said in the statement. "E-mail is an important communication channel for businesses around the world, so it was important to us to integrate that capability into our platform."

The transaction is expected to close in the first half of 2019. The boards of both companies have approved the transaction.


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