On Monday, Twilio (TWLO -1.49%) announced an extensive partnership and a $750 million strategic investment in Syniverse. Twilio will become a minority owner of Syniverse, which provides messaging, roaming and other communication services for mobile operators.

The collaboration between the companies could be the first step on the road toward a public listing for Syniverse, which may be interested in being acquired by a special purpose acquisition company (SPAC), according to a report in The Wall Street Journal.

Hand of man typing text on mobile smartphone with chat icon appearing above phone.

Image source: Getty Images.

Twilio's application programming interface (API) allows companies to embed the company's cutting-edge communications technology into their own software and apps, providing a host of ways to connect with customers. This includes calls, video, and text messages -- all without ever leaving the app. The partnership with Syniverse will give Twilio a way into areas of enterprise that don't have access to Wi-Fi, while avoiding the need to cobble together patchwork solutions.

It's also worth noting that Twilio is an existing customer of Syniverse and has been for some time. "The partnership will provide Syniverse access to Twilio's extensive enterprise and API services expertise, creating opportunities to continue to build on Syniverse's highly innovative product portfolio that helps mobile network operators and enterprises make communications better for their customers," said James Attwood, executive chairman of Syniverse. 

The move comes on the heels of Twilio's acquisition of Segment last year, which provides businesses with insight about their customers by sifting through websites, email communication, and mobile apps.  

Syniverse is currently owned by private-equity firm The Carlyle Group, which acquired the company for $2.6 billion in 2010. The potential that the company could go public via a SPAC also provides Twilio with potential upside on its investment. Syniverse is currently valued at between $2 billion and $3 billion.