Twilio to buy Segment for $3.2bn

Twilio said the deal, which is expected to close in the fourth quarter of the year, will accelerate its growth with a combined total addressable market of $79bn, bringing the company one step closer to achieving its vision of "becoming the world’s leading customer engagement platform trusted by developers and companies globally".

Co-founder and chief executive officer Jeff Lawson said: "Data silos destroy great customer experiences. 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."

Segment’s co-founder and CEO, Peter Reinhardt, said that together, the companies 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."