Twilio’s $2 Billion Acquisition of SendGrid

Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Twilio and Goodwin Procter LLP is acting as legal counsel to Twilio. Morgan Stanley & Co. LLC. is serving as exclusive financial advisor to SendGrid and Cooley LLP and Skadden, Arps, Slate, Meagher & Flom LLP are acting as legal counsel to SendGrid.

Twilio (NYSE:TWLO) and SendGrid have entered into a definitive agreement for Twilio to acquire SendGrid in an all-stock transaction valued at approximately $2 billion. At the exchange ratio of 0.485 shares of Twilio Class A common stock per share of SendGrid common stock, this price equates to approximately $36.92 per share based on today’s closing prices. The transaction is expected to close in the first half of 2019.

Adding the leading email API platform to the leading cloud communications platform can drive tremendous value to the combined customer bases. The resulting company would offer developers a single, best-in-class platform to manage all of their important communication channels — voice, messaging, video, and now email as well. Together, the companies currently drive more than half a trillion customer interactions annualized*, and growing rapidly.

Goodwin advised Twilio with a team including Stuart Cable (Picture), Lynda Galligan, Blake Liggio, Michael Patrone and Alessandra Murata, and Yasin Akbari.

Cooley advised digital communications platform SendGrid with a team including Barbara Borden, Matthew Dubofsky, Michael Platt, Tanisha A. James, Barbara Mirza, Mark Windfeld-Hansen, Won Lee, Katherine Snow, Danielle Wheeler, Lindsey Crump, Austin Holt, Smita Rajmohan, Sarah Swain, Andrew Epstein, Erin Locker, Kassity L. Mai, Chris Mayer-Dempsey, Sae Yun, Jonathan Rivinus, Nicola Squire, Sam Seligman, Joshua Friedman, Adit Khorana, Paula Holland, Ross Eberly, Bryan Berman and Mike Faber.

 

Involved fees earner: Barbara Borden – Cooley LLP; Matthew Dubofsky – Cooley LLP; Michael Platt – Cooley LLP; Won Lee – Cooley LLP; Katherine Snow – Cooley LLP; Danielle Wheeler – Cooley LLP; Lindsey Crump – Cooley LLP; Sae Yun – Cooley LLP; Sam Seligman – Cooley LLP; Bryan Berman – Cooley LLP; Tanisha James – Cooley LLP; Sarah Swain – Cooley LLP; Barbara Mirza – Cooley LLP; Austin Holt – Cooley LLP; Nicola Squire – Cooley LLP; Joshua Friedman – Cooley LLP; Paula Holland – Cooley LLP; Ross Eberly – Cooley LLP; Mark Windfeld-Hansen – Cooley LLP; Chris Mayer-Dempsey – Cooley LLP; Jonathan Rivinus – Cooley LLP; Mike Faber – Cooley LLP; Smita Rajmohan – Cooley LLP; Andrew Epstein – Cooley LLP; Erin Locker – Cooley LLP; Adit Khorana – Cooley LLP; Kassity Mai – Cooley LLP; Stuart Cable – Goodwin Procter; Michael Patrone – Goodwin Procter; Yasin Akbari – Goodwin Procter; Lynda Galligan – Goodwin Procter; Alessandra Murata – Goodwin Procter; Blake Liggio – Goodwin Procter;

Law Firms: Cooley LLP; Goodwin Procter;

Clients: Twilio, Inc.; SendGrid Inc.;

 

Author: Ambrogio Visconti