The communications API firm Twilio has been en fuego, with its stock up nearly 3x over the past 12 months.
On Monday, the firm used $3.2B of that sweet sweet $TWLO stock to buy Segment, a customer data firm.
Founded in 2008, Twilio created a suite of application programming interfaces (APIs) that allowed any company to easily add text and voice services with a few lines of code.
As noted by Techcrunch, Twilio has not been shy to use acquisitions to expand its offering: It acquired email delivery provider SendGrid in 2018 for $2B and almost acquired chatbot startup Intercom in 2015.
With Segment in the mix — it can cross-sell data management and analytics services to these customers.
The acquisition itself is likely to be a smooth process, per Techcrunch:
The market was happy with the deal: $TWLO was up a sweet sweet 7%+ yesterday.