Twilio bought SendGrid in $2bn deal

Cloud technology company Twilio Inc acquired email technology firm SendGrid Inc in an all-stock deal valued at about $2bn. Twilio will offer 0.485 share of its stock for each SendGrid Class A common share. The deal is worth about $36.92 per share, a premium of 19.4 percent to SendGrid’s closing price. SendGrid CEO Sameer Dholakia told Reuters in an interview that many of Twilio’s products fetch a higher amount of revenue per user than do SendGrid’s. The email firm, which will operate as a standalone unit within Twilio under Dholakia, could boost its revenue by selling Twilio services to SendGrid customers.