Twilio closes in on a deal to invest up to $ 750 million in Syniverse: WSJ


FILE PHOTO: A banner for communications software provider Twilio Inc., hangs on the facade of the New York Stock Exchange (NYSE) to celebrate the company’s IPO in New York City, the United States, on June 23, 2016. REUTERS / Brendan McDermid

(Reuters) – Cloud communications company Twilio Inc is in talks to invest up to $ 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 telecom services company Syniverse and a special-purpose acquisition company to go public, according to the report, 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 deal with SPAC or an IPO, the Journal added.

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

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

Report from Maria Ponnezhath and Juby Babu in Bengaluru; Editing by Daniel Wallis and Shri Navaratnam

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