Twilio nears deal to invest up to $750 million in Syniverse
Mon Mar 01 2021
Lucy Harlow (3650 articles)

Twilio nears deal to invest up to $750 million in Syniverse

Cloud-communications firm Twilio Inc is in talks to invest as much as $750 million in Syniverse Technologies LLC, the Wall Street Journal reported on Sunday.

The investment will be announced on Monday, which could be followed by a merger between telecommunications services company Syniverse and a special-purpose acquisition company to take it public, the report said, citing people familiar with the matter.

 

The deal values Syniverse at around $2 billion to $3 billion including debt.

There is no guarantee that Syniverse, backed by private-equity firm Carlyle Group Inc will go public, either through a SPAC deal or an IPO, the Journal added.

 

For Syniverse, the Twilio deal involves a commercial arrangement that would send a significant amount of business its way, the newspaper said. Syniverse may also use proceeds from a SPAC deal to make acquisitions, it said.

Both Twilio and Syniverse did not immediately respond to a Reuters request for comment.

Lucy Harlow

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe