Twilio Buys SendGrid in Deal Joining Communications Platforms
(Bloomberg) -- Twilio has agreed to buy SendGrid in an all-stock deal valued at about $2 billion, joining the two communications platforms for developers.
- Exchange ratio of 0.485 shares of Twilio Class A common stock per share of SendGrid common stock, equating to about $36.92 per share based on today’s closing prices
- Twilio Merger Subsidiary Inc. to be merged into SendGrid, with SendGrid surviving as unit of Twilio
- Deal expected to close in first half of 2019
- Boards of each co. have approved the deal
- Twilio and SendGrid report they exceeded guidance provided on Aug. 6 and July 31 respectively
- Twilio shares down about 2% in post-market trading; SendGrid shares rise about 13.5% in post-market
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