Twilio pumps $750 million into Syniverse - Mobile World Live

Twilio pumps $750 million into Syniverse

16 MAY 2022

Cloud communications company Twilio completed a $750 million investment in US interconnect and roaming provider company Syniverse, a move which will lower the latter’s debt and accelerate its mobile 5G ambitions.

The move makes Twilio a minority owner of Syniverse, with Carlyle Group retaining its majority stake.

Alongside Twilio’s investment, Syniverse also raised $1 billion in new term loan debt and $340 million in fresh preferred equity, both of which also improved its balance sheet.

Syniverse CEO Andrew Davies commented the investment from Twilio will allow the company to accelerate investment in innovation and product quality, and boost earnings from 5G and communications platform as-a-service (CPaas) opportunities.

The company is also set to tap Twilio’s experience serving enterprise customers across digital communications.

Twilio first expressed interest in an investment more than a year ago.

Earlier this year, Syniverse ditched a plan to go public through a merger with special purpose acquisition company M3-Brigade Acquisition II.

Back

Author

Mike Robuck

Mike Robuck is the U.S. Editor at Mobile World Live. He joined the Mobile World Live staff in February of 2022. Prior to joining GSMA, he was editor of FierceTelecom and of Light Reading’s Telco Transformation microsite. He has a...

Read more

Related

Tags