(Reuters) – Cloud communications firm Twilio Inc is in talks to invest as much as $ 750 million in Syniverse Technologies LLC, the Wall Street Journal reported Sunday.
The investment will be announced on Monday, which could be followed by a merger between the telecommunications services company Syniverse and a special procurement company to make it public, the report said, referring to 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 be through a SPAC agreement or a stock exchange listing, the Journal added.
For Syniverse, the Twilio agreement involves a commercial arrangement that will send a significant amount of business to its side, the newspaper said. Syniverse could also use proceeds from a SPAC deal to make acquisitions, he said.
Both Twilio and Syniverse did not immediately respond to a Reuters request for comment.
Reporting by Maria Ponnezhath and Juby Babu in Bengaluru; Edited by Daniel Wallis and Shri Navaratnam