(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 the telecommunications services company Syniverse and a special-purpose procurement company to make it public, the report said, citing people familiar with the matter.
The transaction estimates Syniverse at between $ 2 billion and $ 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 agreement or an IPO, the Journal added.
For Syniverse, the Twilio deal involves a trade arrangement that would send a significant amount of business, the newspaper said. Syniverse can also use revenue from a SPAC business to make purchases, he said.
Both Twilio and Syniverse did not immediately respond to Reuters’ request for comment.
Reporting by Maria Ponnezhath and Juby Babu in Bengaluru; Editing by Daniel Wallis and Shri Navaratnam