(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, according to the report, which cites people familiar with the subject.
The deal values Syniverse between $ 2,000 and $ 3 billion, including debt.
There is no guarantee that Syniverse, with the support of private equity firm Carlyle Group Inc, will be made public, either through a SPAC deal or a IPO, the newspaper added.
For Syniverse, the Twilio deal involves a trade deal that would open up a significant amount of business, the newspaper said. Syniverse can also use the proceeds of a SPAC deal to make acquisitions, he said.
Both Twilio and Syniverse did not immediately respond to a request for comment from Reuters.
Reports of Maria Ponnezhath and Juby Babu in Bengaluru; Edited by Daniel Wallis and Shri Navaratnam