Twilio hired Qatalyst to advise on defense against activist investor group
Publishing timestamp: 2023-12-13 11:00:22
Summary
Twilio has hired Qatalyst Partners to advise on its defense against activist investors who are pushing for changes in the company's board and strategy. Qatalyst previously advised on Twilio's purchase of Segment in 2020, which is now being targeted by the activists. While Qatalyst is known for mergers and acquisitions, this assignment is focused on activist defense. Twilio's shares have gained 45% this year but have also experienced significant losses. The activists have suggested that Twilio sell its underperforming data and applications business. Twilio's CEO recently announced layoffs and downsizing in the data and applications unit. Qatalyst's involvement is not seen as a precursor to the sale of the company.
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Source: https://www.cnbc.com/2023/12/13/twilio-hires-qatalyst-to-advise-on-shareholder-activist-defense.html