Brief: Squarespace Enters Definitive Agreement To Acquire Google Domains Assets

Squarespace

15/06/2023 21:10

June 15 (Reuters) - Squarespace Inc  SQSP.N :
    * SQUARESPACE ENTERS DEFINITIVE AGREEMENT TO ACQUIRE GOOGLE
DOMAINS ASSETS
    * SQUARESPACE INC- PURCHASE INCLUDES APPROXIMATELY 10
MILLION
DOMAINS HOSTED ON GOOGLE DOMAINS SPREAD ACROSS MILLIONS OF
CUSTOMERS.
    * SQUARESPACE INC - WILL ACQUIRE ASSETS ASSOCIATED WITH
GOOGLE
DOMAINS BUSINESS, WHICH WILL BE WINDING DOWN FOLLOWING A
TRANSITION PERIOD
    * SQUARESPACE INC SEES DEAL WILL BE MEANINGFULLY ACCRETIVE
TO ITS
BUSINESS FROM BOTH A REVENUE AND FREE CASH FLOW PERSPECTIVE OVER
TIME
    * SQUARESPACE INC- WHILE MAJORITY OF BENEFITS OF DEAL WILL
BE
REALIZED IN 2024 AND BEYOND
    * SQUARESPACE INC- TRANSACTION IS EXPECTED TO CLOSE IN Q3 OF
2023

Source text for Eikon:  ID:nPn5RHwX0a 
Further company coverage:  SQSP.N 

 ((Reuters.Briefs@thomsonreuters.com;))