Constant Contact To Be Acquired For $1.1 Billion By Endurance International Group
Endurance says the acquisition will position it as a leader in the small business marketing space.
According to a news release posted by email marketing provider Constant Contact, the email marketing platform will be acquired by Endurance International Group, a technology solutions provider, for $1.1 billion.
The announcement claims the deal will combine “…two leaders in small business online products and services, creating a full suite of online marketing tools and end-to-end solutions.”
The acquisition will increase subscribers, on a combined bases, to more than five million and is expected to generate combined year-over-year growth of 10 to 12 percent in 2016.
“Their focus on the customer and product development complements our offerings for small business services, and expands our ability to address the needs of SMBs,” said Endurance CEO Hari Ravichandran.
Constant Contact CEO Gail Goodman said the acquisition will allow her company to extend its reach and be a better business partner to small businesses around the world.
“We have long shared a parallel path — from our focus on SMBs, to technology, to talent — and we believe this transaction will build continued value for all constituents,” said Goodman.
The acquisition is expected to close the first quarter of 2016.