A Dutch software company, MessageBird, is set to acquire email marketing firm SparkPost for US$600 million in an all-cash deal to strengthen its North American focus and competition with Twilio, Bloomberg reported.
Twilio’s value has grown from US$1.23 billion to US$67.8 billion within four years of listing. MessageBird had procured US$800 million from investors including Eurazeo, Tiger Global, Owl Rock Capital, and BlackRock to fund the transaction. Eurazeo’s Nathalie Kornhoff-Bruls will join MessageBird’s board.
MessageBird aims to grow its US workforce from 20 to 300 by the transaction closure. MessageBird’s platform makes it easier for companies to communicate with their customers through a range of channels including SMS, voice and messaging platforms like WhatsApp. The acquisition of SparkPost will add email to MessageBird’s suite of communication tools, as well as top clients like Disney, JPMorgan and Adobe.
Making a big investment like this in email might seem like a kind of return to basics, but MessageBird CEO and founder Robert Vis said it’s still a widely-used method of communication between businesses and their customers.
MessageBird “wants to make communicating with a business to feel as natural as with a friend,” Vis told CNBC in an interview. “And if you define that as texting with a business, where are all the interactions happening today? They’re happening on email.”
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI