Syniverse and Twilio close on strategic partnership to unlock the power of communications technology
Tampa and San Francisco, United States. 16 May, 2022 – Syniverse, communications technology provider to carriers and enterprises, and Twilio, the customer engagement platform that drives real time, personalised experiences for today’s brands, announced that the companies have closed on their previously announced strategic partnership. Twilio has invested [$750 million (€720.50 million)] for common equity in Syniverse, and the two companies have expanded their strategic and commercial partnership. Twilio is now a significant minority owner of Syniverse with Carlyle maintaining its majority stake.
Under the terms of the transaction, Twilio has invested [$750 million (€720.50 million)] in Syniverse, with Syniverse concurrently having raised [$1.025 billion (€0.98 billion)] in new term loan debt and [$340 million (€326.63 million)] in new preferred equity, the proceeds of which were primarily used to reduce leverage.
Syniverse’s chief executive officer Andrew Davies comments, “This transaction provides Syniverse with the enhanced liquidity and financial flexibility that will enable us to accelerate investment in innovation, product quality, and breadth to benefit our enterprise and carrier customers around the world. Our partnership with Twilio, combined with our enhanced balance sheet following this new infusion of capital, leaves us well positioned to more effectively monetise 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.”
Through this partnership, Syniverse will benefit from Twilio’s breadth of experience serving enterprise customers to capitalise on the next wave of growth in digital communications. Syniverse will also be even better positioned to serve its carrier customers and support continued innovation, customer service and lasting growth.
Simon Khalaf, Twilio’s senior vice president and GM of communications Platform, says “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.”
James Attwood, senior advisor at Carlyle and Chairman of Syniverse, says “Today marks a new day for Syniverse and for Carlyle’s investment in the business. We look forward to continuing to partner with Syniverse and Twilio to accelerate the next wave of innovation in intelligent connectivity and communications.”
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