Twilio has hired Qatalyst Partners, the investment bank founded by Frank Quattrone, to advise on its defense against a group of activist investors, CNBC’s Rohan Goswami reports, citing two people with knowledge of the matter. Qatalyst, which previously advised Segment when Twilio purchased it for $3.2B in 2020, has been working on the activist matter for months, one of the people said. Legion Partners took a stake in Twilio earlier this year and began pushing the company to overhaul its board and strategy. Legion’s engagement was led by Sagar Gupta, who left the firm in October for Anson Funds, where he amassed a similar stake, the author notes.
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