Twilio to spend $850 million on Zipwhip acquisition
Cloud communications platform Twilio has entered into a definitive agreement to acquire Zipwhip for approximately $850 million in an equal blend of cash and stock.
The transaction is expected to close by the end of 2021.
Zipwhip’s business texting platform allows organisations to enable their existing toll-free phone number in minutes and seamlessly fit texting into their workflows using Zipwhip’s customizable APIs, suite of integrations or software product.
The firm's CEO, John Lauer, explained: "Twilio and Zipwhip share a vision for the future of business messaging and its growing role within customer engagement.
“Zipwhip’s goal is to make sure every business we serve can text their customers using their existing business phone numbers and, together, we have a unique opportunity to elevate the customer experience, helping brands better communicate via a trusted and growing channel that’s been proven to drive long-term customer satisfaction.”
The news followed Twilio's March acquisition of Syniverse, for which it paid $750 million.
Commenting on the latest buy, Simon Khalaf, SVP and general manager of the Twilio communications platform added: “Messaging is becoming a preferred way for consumers to engage with brands, therefore it’s critical to provide multiple messaging options.
“By bringing together the world’s leading cloud communications platform and a trusted partner in the messaging ecosystem, we have the ability to deliver more secure, high-quality toll-free traffic at scale. We are thrilled to welcome Zipwhip to the Twilio team as we continue our journey to become the world’s leading customer engagement platform trusted by developers and companies globally,” he continued.