Shares of Twilio Inc. (TWLO) jumped 4.5% toward a record high in premarket trading Monday, after the communications software company announced a deal to buy customer data platform company Segment in a $3.2 billion stock deal. The company expects the deal to close in the fourth quarter. "Data silos destroy great customer experiences. Segment lets developers and companies break down those silos and build a complete picture of their customer," said Twilio Chief Executive Jeff Lawson. "Combined with Twilio's Customer Engagement Platform, we can create more personalized, timely and impactful engagement across customer service, marketing, analytics, product and sales." Twilio's stock, which closed at a record $306.24 on Friday, has more than tripled (up 211.6%) year to date, while the S&P 500 has gained 7.6%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 12, 2020 07:39 ET (11:39 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.