Squarespace Enters Definitive Agreement To Buy Google Domains Assets; Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Squarespace has entered a definitive agreement to acquire assets associated with Google Domains, including approximately 10 million domains. The transaction is expected to close in Q3 2023 and will be accretive to Squarespace's revenue and free cash flow over time.
June 15, 2023 | 8:06 pm
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POSITIVE IMPACT
Squarespace is set to acquire Google Domains assets, including 10 million domains, which will be accretive to its revenue and free cash flow over time.
The acquisition of Google Domains assets is expected to have a positive short-term impact on Squarespace's stock price, as it will increase its customer base and domain portfolio. This will likely lead to higher revenues and free cash flow over time, making the company more attractive to investors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Google is winding down its Google Domains business and selling its assets to Squarespace. The deal is expected to close in Q3 2023.
The sale of Google Domains assets to Squarespace is not expected to have a significant short-term impact on Google's stock price, as the deal is relatively small compared to Google's overall business. However, it may streamline Google's operations and allow it to focus on other areas.
CONFIDENCE 85
IMPORTANCE 40
RELEVANCE 50