Endurance International Group Signs Definitive Agreement to Acquire Ecomdash
September 09 2019 - 4:05PM
Endurance International Group Holdings, Inc. (NASDAQ: EIGI), a
leading provider of cloud-based platform solutions designed to help
small and medium-sized businesses succeed online, announced it has
entered into a definitive agreement to acquire Ecomdash,
a software solutions provider that enables inventory
management, distribution, and multichannel marketplace listings for
ecommerce retailers.
“We are impressed with the Ecomdash management team, and the
emphasis the company has placed on delivering valuable product
features to its growing customer base,” said Jeffrey H. Fox,
president and chief executive officer of Endurance. “We see
an opportunity to enhance the value we deliver to our customers by
leveraging the team’s expertise and platform. We look forward
to welcoming the entire team to Endurance and to investing to make
these capabilities available across our email marketing and web
presence platforms.”
“We couldn’t be more excited to join the Endurance family,” said
Nick Maglosky, chief executive officer of Ecomdash. “We believe our
inventory and listing management platform will provide a strong
complement to Endurance’s current product set as we continue to
jointly serve our customer base in this large and growing market
for SMB services.”
Ecomdash is located in Charlotte, North Carolina. Under
the terms of the definitive agreement, Endurance will acquire
substantially all assets of Ecomdash for approximately $9.6 million
to be paid in cash. The closing of the transaction is subject
to customary closing conditions and is expected to close on or
before October 1, 2019. Subject to the closing of the
transaction, the Company expects to provide additional information
on its third quarter 2019 financial results conference call.
Forward-Looking StatementsThis press release
includes certain “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995, Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
about Endurance’s anticipated acquisition of the assets of
Ecomdash, the expected timing of such acquisition, our plans to
invest to make Ecomdash capabilities available across our email
marketing and web presence platforms, and other statements
reflecting our belief and expectation that the Ecomdash technology
and team will complement and enhance Endurance’s business. These
forward-looking statements include, but are not limited to, plans,
objectives, expectations and intentions and other statements
contained in this press release that are not historical facts, and
statements identified by words such as “expects,” “anticipates,”
“believes,” “estimates,” “may,” “continue,” “positions,”
“confident,” “look forward,” and variations of such words or words
of similar meaning and the use of future dates. These
forward-looking statements reflect our current views about our
plans, intentions, expectations, strategies and prospects, which
are based on the information currently available to us and on
assumptions we have made. Although we believe that our plans,
intentions, expectations, strategies and prospects as reflected in
or suggested by those forward-looking statements are reasonable, we
can give no assurance that these plans, intentions, expectations,
strategies or prospects will be attained or achieved. Furthermore,
actual results may differ materially from those described in the
forward-looking statements and will be affected by a variety of
risks and factors that are beyond our control including, without
limitation: the possibility that our acquisition of the Ecomdash
assets will not be completed in the timeframe we expect or at all,
whether because the closing conditions are not met or for other
reasons; the possibility that we will be unable to effectively
integrate Ecomdash’s technology or team into our business; the
potential that the Small and Medium Business (“SMB”) market for our
and/or Ecomdash’s solutions will not grow as we anticipate, or will
grow at a lower rate; and other risks and uncertainties discussed
in our filings with the SEC, including those set forth under the
caption “Risk Factors” in our Annual Report on Form 10-K for the
period ended December 31, 2018 filed with the SEC on February 21,
2019 and other reports we file with the SEC.
We assume no obligation to update any forward-looking statements
contained in this document as a result of new information, future
events or otherwise.
About EcomdashEcomdash is a full-cycle
inventory management platform that streamlines operations for
online retailers. Merchants can manage their multichannel ecommerce
inventory, product listings, sales orders, and shipping processes
across marketplaces such as Amazon and eBay, as well as ecommerce
website platforms like Shopify and Magento. Ecomdash gives
ecommerce entrepreneurs the ability to sell with confidence across
multiple channels and beyond.
About Endurance International GroupEndurance
International Group Holdings, Inc. (NASDAQ:EIGI) helps millions of
small businesses worldwide with products and technology to enhance
their online web presence, email marketing, business solutions, and
more. The Endurance family of brands includes: Constant Contact,
Bluehost, HostGator and Domain.com, among others. Headquartered in
Burlington, Massachusetts, Endurance employs over 3,800 people
across the United States, Brazil, India and the Netherlands. For
more information, visit: www.endurance.com.
Endurance International Group and the compass logo are
trademarks of The Endurance International Group, Inc.
Constant Contact, the Constant Contact logo and other brand names
of Endurance International Group are trademarks of The Endurance
International Group, Inc. or its subsidiaries.
Investor Contact:Angela WhiteEndurance
International Group(781) 852-3450ir@endurance.com
Press Contact:Kristen AndrewsEndurance
International Group(781) 418-6716press@endurance.com
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