Communications technology provider Syniverse and customer engagement platform Twilio announced the companies closed on their previously announced strategic partnership.
Twilio invested $750 million for common equity in Syniverse (News - Alert), and the two companies expanded their strategic and commercial partnership, making Twilio a minority owner of Syniverse with Carlyle maintaining its majority stake.
“Today marks a new day for Syniverse and for Carlyle’s investment in the business,” said James Attwood, senior adviser at Carlyle and chairman of Syniverse. “We look forward to continuing to partner with Syniverse and Twilio (News - Alert) to accelerate the next wave of innovation in intelligent connectivity and communications.”
Under the terms of the transaction, Twilio invested $750 million in Syniverse, with Syniverse concurrently having raised $1.025 billion in new term loan debt and $340 million in new preferred equity, the proceeds of which were primarily used to reduce leverage.
“We are pleased to have closed this partnership and investment to accelerate the next wave of innovation in mobile communications and drive long-term growth,” said Simon Khalaf, Twilio’s senior vice president and general manager of communications platform.
Syniverse will benefit from Twilio’s experience serving enterprise customers to capitalize on the next wave of growth in digital communications and will be better positioned to serve its carrier customers and support continued innovation, customer service and lasting growth through this partnership.
“Our partnership with Twilio, combined with our enhanced balance sheet following this new infusion of capital, leaves us well positioned to more effectively monetize the 5G and CPaaS revolutions, deepen our engagement with our customers across key industry verticals and create long-term value and opportunity for all our stakeholders,” said Syniverse CEO Andrew Davies.
Explore the disruption and opportunity IoT and its related technologies are creating at IoT Evolution Expo and Future of Work Expo, both taking place in Ft. Lauderdale, Florida, June 21-24, 2022, part of the #TECHSUPERSHOW experience.The #TECHSUPERSHOW events combine to deliver a four-day educational and networking experience featuring the latest technologies driving business innovation and digital transformation across industries. Plus, discover advances in edge computing, machine learning and AI; and understand the role these technologies play in ushering in the new age of digital transformation. Participate in more than 200 conference sessions, workshops and keynotes, meet key suppliers in the exhibit hall, and network with prospective partners and customers during the many networking and other special events during the week. Syniverse, a Platinum sponsor of IoT Evolution Expo will be in Booth #423 in the exhibit hall and both Syniverse and Twilio are featured in the IoT Evolution Expo and Future of Work conference programs, respectively.
Edited by
Erik Linask
