Twilio, the leading cloud communications platform, announced the successful completion of its previously announced acquisition of SendGrid, Inc., the leading email API platform. This follows approval by the stockholders of both companies at separate meetings on Jan. 30, 2019. This transaction is valued at approximately $3 billion. Based on the closing price of Twilio Class A common stock on Jan. 31, 2019 and the exchange ratio of 0.485 shares of Twilio Class A common stock per share of SendGrid common stock, SendGrid stockholders received approximately $53.99 of aggregate value per share of SendGrid common stock. As a result of the acquisition, shares of common stock of SendGrid ceased trading prior to the open of the market on Feb. 1, 2019 and will no longer be listed on the New York Stock Exchange.
With SendGrid, developers and businesses can use Twilio to reach their customers over any channel – voice, SMS, Facebook Messenger, WhatsApp, video, and now email. Across a wide variety of customer touchpoints, companies can now trust one platform to deliver the right communication, on the right channel, without having to setup different vendors for each approach.