Deals
Endurance to Buy Constant Contact for $1.1 Billion in Cash
- Purchase to be paid for with $1.085 billion in debt financing
- Offer is 23 percent premium to Constant Contact Oct. 30 price
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Endurance International Group Holdings Inc. agreed to buy software maker Constant Contact Inc. in a deal valued at $1.1 billion as the provider of Internet-based services broadens its reach into small business marketing.
Endurance will pay $32 in cash for each Constant Contact share, the companies said Monday in a joint statement. The offer represents a premium of about 23 percent over Constant Contact’s Oct. 30 closing price. Endurance shares slid as much as 23 percent after the announcement.