Twilio Inc. (NYSE:TWLO) entered into a definitive agreement to acquire Segment.io, Inc. for $2.9 billion on October 12, 2020. Under the terms of the agreement, Twilio will issue Class A common stock as consideration, on a fully diluted and cash free, debt free basis. Post the transaction, Segment will become a division of Twilio and will continue to be led by Segment Chief Executive Officer Peter Reinhardt, reporting to Lawson. The transaction is subject to customary closing conditions. The transaction has been approved by the Boards of Directors of Segment and Twilio. As of October 26, 2020, the transaction got approval from Federal Trade Commission. The transaction is expected to close during the fourth quarter of 2020. The transaction will accelerate Twilio’s growth with a combined total addressable market of $79 billion. Upon closing the acquisition, Segment will be accretive to Twilio's total revenue growing north of 50% for 2020 and gross margin at approximately 75% on a non-GAAP basis. Morgan Stanley & Co. LLC acted as financial advisor and Ben Beerle, Jamie Leigh, Jon Avina, Barbara Mirza, TJ Graham, Howard Morse, Megan Browdie, Joshua Mates, Stella Sarma, Todd Gluth, Karen Tsai of Cooley LLP acted as legal advisors to Twilio in the transaction. Craig M. Schmitz, Michael S. Russell, Alessandra L. Simons, Andy Barton, Monica Patel, Kelsey Lemaster, Alexander R. Plaum, Jacqueline Klosek, Andrea Agathoklis Murino, Kara Kuritz, James D. Riley, Jr., Koray J. Bulut and Ai Tajima of Goodwin Procter LLP acted as legal advisors and Qatalyst Partners LP acted as financial advisor to Segment. Cynthia J. Cole of Baker Botts L.L.P. acted as legal advisor to Twilio Inc. (NYSE:TWLO) Twilio Inc. (NYSE:TWLO) completed the acquisition of Segment.io, Inc. for $3.2 billion on November 2, 2020. Twilio shall issue 9.5 million shares of Class A Common Stock as consideration and $413.3 million in cash. Citibank, N.A. acted as escrow agent and $8 million was deposited as indemnity escrow amount. Upon completion, Segment.io, Inc. became a wholly owned subsidiary of Twilio.