BURLINGTON, Mass., Sept. 09, 2019 (GLOBE NEWSWIRE) -- 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 Statements
This 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 Ecomdash
Ecomdash 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 Group
Endurance 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 White
Endurance International Group
(781) 852-3450
ir@endurance.com
Press Contact:
Kristen Andrews
Endurance International Group
(781) 418-6716
press@endurance.com