Constant Contact offered $1.1BN after Tumultous YTD

Endurance International Group Holdings, Inc. have announced an offer to acquire Constant Contact in a deal that values Constant Contact at over a Billion dollars ahead of November 5, when ConstantContact will announce quarterly earnings for 2015Q3. Under the terms of the agreement, shareholders of Constant Contact will receive $32.00 in cash for each share of Constant Contact common stock, significantly less than a record one year high of $43.18 although considerably more than its low of at close of market of $24.76 in July. Constant Contact is stil free to invite other bids through until the end of the month. The two companies have a long history of working together since 2001 and earlier, at the startup phase for both ventures when in fact they were known as Roving Software and BizLand respectively. The holding company includes brands such as Domains.com, Name.com, Hostgator and other small business enablers. In other Burlington news Francisco Partners, the investor who own the significant majority of SmartFocus (Emailvision) announced they are to acquire another local Burlington business ClickSoftware. Rumours abound about an divestment of Smartfocus by Francisco Partners Hari Ravichandran, president and chief executive officer of Endurance, said in a statement:“We couldn’t be more pleased to welcome Constant Contact to our team and our family of brands. We have long admired Constant Contact and its strong management team, and all that it has accomplished in building a great product set, as well as building an influential culture and team. Their focus on the customer and product development complements our offerings for small business services, and expands our ability to address the needs of SMBs.” Gail Goodman, chief executive officer of Constant Contact, said in a statement:“Joining the Endurance family of brands will allow us to extend our reach and be a better partner to small businesses across the globe. We have long shared a parallel path—from our focus on SMBs, to technology, to talent—and we believe this transaction will build continued value for all constituents.” Constant Contact has courted some controvery over the course of the year in respect of its financial dealings with several investigations having been launched by private firms. Most recently many analysts downgraded the Constant Contact stock as a result of two significant sales of stock.VP Robert P. Nault sold 12,500 of his shares at then end of August for $312,500.00. Leaving him with 8,883 shares in the company, valued at approximately $222,075. Shortly after SVP Christopher Litster sold 6,825 shares on Tuesday, September 8th. Sold at an average of $25.00 per share, for a total value of $170,625.00. Leaving him with 2,365 shares in the company. Combined with lower revenues The company is “in the midst of a transformation.” Said Goodman: “We’re evolving Constant Contact from an email marketing company to a provider of an integrated online marketing suite.” But the first quarter results have highlighted that there are risks inherent in this transition, which the company needs to address better, she said. “While we remain excited by our prospects.” Constant Contact had recently announced that it is joining the Facebook Marketing Partner Program, a select group vetted by Facebook. The badge status follows Constant Contact’s tool for Facebook advertising, which allows small businesses to easily convert their Constant Contact email campaigns to highly targeted, mobile-optimized digital ads on Facebook. Steve Irvine, global head of Facebook Marketing Partners said at the time “Constant Contact is helping make Facebook advertising easy for small businesses, and we will continue to expand our Small Business Solutions program to bolster innovation on the platform.”Meanwhile Francisco Partners, the investor who own the significant majority of SmartFocus (Emailvision) annoiunced they are to acquire another locall Burlington business and have acquired ClickSoftware.

Constant Contact offered $1.1BN after Tumultous YTD

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