Endurance International Group (NASDAQ: EIGI), with a family of web hosting brands including Bluehost , HostGator, iPage and Domain.com, acquired Constant Contact (NASDAQ: CTCT). The acquisition extends Endurance solutions portfolio and integrated products for its millions of subscribers, with the addition of the suite of online marketing tools such as email marketing, event management, the integration of social media, Constant Contact and contact management systems.
Endurance International Group will acquire all of the outstanding shares of Constant Contact common shares for $ 32.00 per share in cash , valuing Constant Contact to about 1, $ 1 billion. The transaction brings together two companies longtime Massachusetts. It would expand the Endurance position as a leading player in the small business marketing space -. Of web presence for online marketing services
"We have long admired Constant Contact and its strong management team, and all that he has accomplished in the construction of a large set of products and building a culture and influential team, "said Hari Ravichandran, President and CEO of Endurance . "Their focus on customer development and product complements our offering of small business services, and expands our ability to meet the needs of SMEs. We know that once small businesses have a web presence, they look for other products and services that will help them grow their business. We see an opportunity to help our subscriber base growing to achieve their goals through an integrated solutions suite, and we are excited to add this talented team to our list. "
Web hosting company Endurance International Group is headquartered in Burlington, Massachusetts, has a presence in Asia and the Americas, and employs over 2,700 people across the United States, Utah, Texas, Washington and Arizona and the United Kingdom, India, Israel and Brazil.
"Our team has always been passionate about helping small companies do more business, "said Gail Goodman, Chief executive Officer (CEO) of Constant contact . "Joining the Endurance family of brands will allow us to expand our reach and be a better partner for small businesses worldwide. We have long shared a parallel path of our focus on SMEs, technology, talent -. And we believe that this transaction will build ongoing value for all constituents "
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