Squarespace Stock Is Surging On Deal With Google: What's Going On?
Portfolio Pulse from Adam Eckert
Squarespace (SQSP) has entered into a definitive agreement to acquire Google Domains, a business of Alphabet Inc (GOOG), which includes approximately 10 million hosted domains. The financial terms of the acquisition were not disclosed. The deal is expected to close in Q3 and be accretive to Squarespace's revenue and free cash flow.
June 15, 2023 | 8:43 pm
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Alphabet's Google Domains business is being acquired by Squarespace. The financial terms of the deal were not disclosed.
Alphabet is selling its Google Domains business to Squarespace, but the financial terms of the deal were not disclosed. Given the size of Alphabet and its diverse portfolio, the sale of Google Domains is unlikely to have a significant short-term impact on GOOG's stock price.
CONFIDENCE 85
IMPORTANCE 40
RELEVANCE 80
POSITIVE IMPACT
Squarespace's acquisition of Google Domains is expected to boost its revenue and free cash flow. The deal is set to close in Q3.
Squarespace's acquisition of Google Domains will add approximately 10 million hosted domains to its portfolio, which is expected to boost its revenue and free cash flow. The deal is set to close in Q3, and Squarespace will honor existing Google Domains customers' renewal prices for at least one year. This acquisition is likely to have a positive short-term impact on SQSP's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100