According to a report from the Wall Street Journal, Twilio Inc, a cloud-communications firm, is in talks to invest around $750 million in Syniverse Technologies LLC.
The investment is slated to be announced later today, which could be followed by a merger between telecommunications services company Syniverse and a special-purpose acquisition company to take it public, said the report citing sources familiar with the matter at hand.
The deal values Syniverse at around $2 billion to $3 billion, including debt.
Sources have cautioned that there is no guarantee that Syniverse will go public, either through a SPAC deal or through an IPO, said the WSJ.
The report also mentions that for “Syniverse, the Twilio deal involves a commercial arrangement that would send a significant amount of business its way”.
Syniverse may also use proceeds from a SPAC deal to make acquisitions, said the report.
Neither Twilio nor Syniverse immediately responded to request for comments.