Endurance International Group Holdings Inc said on Monday it would purchase online marketer Constant Contact Inc in deal valued at about $1.1 billion to expand beyond its traditional Web-hosting business.The deal will add Constant Contact's online marketing tools such as email marketing, events management and social media integration to Endurance's portfolio of Web-hosting software for small and medium-sized businesses. Endurance, whose brands include BigRock, HostGator and FatCow.com, already has an agreement to provide Constant Contact's email marketing tools to its subscribers.Constant Contact was founded as "Roving Software" in 1995 in an attic in Brookline, Massachusetts. Its shares tanked in April after it reported dismal subscriber additions.
Constant Contact, Inc. (Constant Contact) is a provider of online marketing tools for small organizations, including small businesses, associations and non-profits. Shares of CTCT traded higher by 21.69% or $5.66/share to $31.76. In the past year, the shares have traded as low as $22.75 and as high as $43.18. On average, 327768 shares of CTCT exchange hands on a given day and today's volume is recorded at 425205.
Endurance International Group Holdings, Inc. (Endurance) is a provider of cloud-based platform solutions designed to help small and medium-sized businesses (SMBs) succeed online. Shares of EIGI fell by 13.691% or $-1.825/share to $11.50. In the past year, the shares have traded as low as $11.44 and as high as $23.49. On average, 743175 shares of EIGI exchange hands on a given day and today's volume is recorded at 818213.