(Reuters) – Cloud communications firm Twilio Inc is in talks to invest up to $ 750 million in Syniverse Technologies LLC, the Wall Street Journal reported on Sunday.
The investment will be announced on Monday, which could be followed by a merger between telecommunications services company Syniverse and a special-purpose acquisition company to make it public, the report said, citing people familiar with the matter.
The deal values Syniverse at about $ 2 billion to $ 3 billion, including debt.
There is no guarantee that Syniverse, backed by private equity firm Carlyle Group Inc, will go public, either through a SPAC or IPO agreement, the newspaper added.
For Syniverse, the deal with Twilio involves a commercial deal that would send him a significant amount of business, the newspaper said. Syniverse can also use the resources of an agreement with SPAC to make acquisitions, he said.
Twilio and Syniverse did not immediately respond to a request for comment from Reuters.
Reporting by Maria Ponnezhath and Juby Babu in Bengaluru; Editing by Daniel Wallis and Shri Navaratnam