10:23 AM EDT, 04/01/2024 (MT Newswires) -- Twilio ( TWLO ) rose nearly 3% Monday after the customer engagement software firm said it received an unspecified equity investment from Sachem Head Capital Management, which tapped one of its partners to fill a new seat on the Twilio ( TWLO ) board following the transaction.

The selection of Sachem Head partner Andy Stafman will expand the Twilio ( TWLO ) board to 10 members, effective immediately. The deal also includes a cooperation agreement with Sachem Head, along with customary standstill, voting and confidentiality commitments, the company said.

Twilio ( TWLO ) also said the company expects to discuss its strategy and medium-term financial targets in greater detail during an investor day presentation planned within the next 12 months.

Price: 62.85, Change: +1.70, Percent Change: +2.78