The acquisition machine continues.
Endurance International Group (NASDAQ: EIGI) has acquired email marketing company Constant Contact for $1.1 billion in an all-cash deal.
Shares in Constant Contact (NASDAQ: CTCT) closed Friday at $26.10, for a market cap of about $840 million. Endurance is paying $32.00 per share, and shares in Constant Contact have jumped in pre-market trading.
Endurance is paying for the acquisition with debt financing of up to $1.085 billion from Credit Suisse AG and an affiliate of Goldman Sachs.
Constant Contact has more than 650,000 customers, many of whom are good candidates to purchase other services from Endurance companies.
Endurance International Group is a rollup of hosting and domain name companies. It owns Domain.com, HostGator and BuyDomains.