Sep, 2001 : Electric Mail to Acquire 123Mail?s Assets
📅 - The Electric Mail Company Inc. (electricmail.com), a Burnaby, B.C.-based developer and aggregator of "outsourceable" messaging, email andInternet communication services, announced that it hassigned a letter of intent to acquire the assets of123Mail.net (123mail.net).
The acquisition will provide The Electric Mail companywith immediate, significant and proprietary marketingand lead-generation resources specific to theoutsourced email and messaging business.
"There is an exceptional fit between the businessmodel of Electric Mail and what 123Mail.net has beendoing for both us and, until just recently, our largercompetitors." said Iain J.S. Black, president and CEOof Electric Mail. "This acquisition will increase thenumber of exclusive, qualified and meaningful salesleads flowing into our hands, facilitating thecontinued, steady and managed growth of our business,particularly in the western United States."
Founded in 1998, 123Mail.net's primary business offersemail solutions to corporations through passing salesleads to email hosting partners, including TheElectric Mail company. 123Mail.net developednon-exclusive partnerships with both The Electric Mailcompany and its larger competitors who recognised thevalue of the 123Mail.net relationship and salesopportunities it produced. In addition to securingover 300 customers through these partnerships,123Mail.net has excelled at creating a visible webpresence and has successfully established itself asone of the premier lead generation companies in theoutsourced messaging and email industry.
"A substantial number of our sales leads come from ourpresence on the web. For years, 123Mail.net has hadthe lead position in web visibility both as a knownresource for companies looking to outsource email andas a top search result when using the various searchengines", added Ian McDonald, vice president sales."Our recent Messaging Partner relationship with123Mail.net has produced immediate lead generationresults, sufficiently material to justify oursuccessful bid for their business."
Details of the cash and common share considerationwill be released upon completion of due diligence,which is expected before the middle of Sept., 2001.The transaction is also subject to regulatory approvaland the final approval of the boards of directors ofboth companies.
The acquisition will provide The Electric Mail companywith immediate, significant and proprietary marketingand lead-generation resources specific to theoutsourced email and messaging business.
"There is an exceptional fit between the businessmodel of Electric Mail and what 123Mail.net has beendoing for both us and, until just recently, our largercompetitors." said Iain J.S. Black, president and CEOof Electric Mail. "This acquisition will increase thenumber of exclusive, qualified and meaningful salesleads flowing into our hands, facilitating thecontinued, steady and managed growth of our business,particularly in the western United States."
Founded in 1998, 123Mail.net's primary business offersemail solutions to corporations through passing salesleads to email hosting partners, including TheElectric Mail company. 123Mail.net developednon-exclusive partnerships with both The Electric Mailcompany and its larger competitors who recognised thevalue of the 123Mail.net relationship and salesopportunities it produced. In addition to securingover 300 customers through these partnerships,123Mail.net has excelled at creating a visible webpresence and has successfully established itself asone of the premier lead generation companies in theoutsourced messaging and email industry.
"A substantial number of our sales leads come from ourpresence on the web. For years, 123Mail.net has hadthe lead position in web visibility both as a knownresource for companies looking to outsource email andas a top search result when using the various searchengines", added Ian McDonald, vice president sales."Our recent Messaging Partner relationship with123Mail.net has produced immediate lead generationresults, sufficiently material to justify oursuccessful bid for their business."
Details of the cash and common share considerationwill be released upon completion of due diligence,which is expected before the middle of Sept., 2001.The transaction is also subject to regulatory approvaland the final approval of the boards of directors ofboth companies.
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