Cloud communications platform developer Twilio has agreed to acquire SendGrid, an email marketing platform, for around $2bn in an all-stock transaction. The deal is expected to close in the first half of 2019.

According to Twilio, adding SendGrid email API platform its cloud communications platform will drive value to their customers by offering one platform to cover all of their communication channels.

As a result of the transaction, SendGrid will become a wholly-owned subsidiary of Twilio with its common stock become Twilio stock.

“Increasingly, our customers are asking us to solve all of their strategic communications challenges – regardless of channel. Email is a vital communications channel for companies around the world, and so it was important to us to include this capability in our platform,” said Jeff Lawson, Twilios co-founder and chief executive officer. “The two companies share the same vision, the same model, and the same values. We believe this is a once-in-a-lifetime opportunity to bring together the two leading developer-focused communications platforms to create the unquestioned platform of choice for all companies looking to transform their customer engagement.”