Alphabet Inc., the parent company of Google, is in the process of selling its Google Domains business to Squarespace Inc., according to an official statement made on Thursday. The financial details of the transaction were not disclosed but a reliable source reported that the deal was worth approximately $180 million. As part of the deal, Squarespace will acquire the assets associated with the business, which includes roughly 10 million domains hosted on Google Domains, supporting millions of customers worldwide.
Anthony Casalena, founder and chief executive officer of Squarespace, expressed his pleasure in being chosen to serve the Google Domains business customers:
“Domains are a critical part of web infrastructure and an essential piece of every business’s online presence,” said Casalena. “We are exceptionally proud to be chosen to serve the customers of the Google Domains business.”
To ensure customers have a smooth transition, Squarespace will honor Google Domains’ customers’ renewal prices for at least a year after the deal closes. Additionally, Squarespace will become the exclusive domain provider for customers who purchase a domain from Google along with their Workspace subscription.
In response to the agreement, Matt Madrigal, Vice President and General Manager of Merchant Shopping at Google, said the following:
“Supporting a smooth transition for customers over the coming months, with the help of the Google Domains team, is our top priority.”
The transaction is expected to close during the third quarter of this year. With the added convenience of being able to manage domains along with offering additional tools that these customers may need, Squarespace is hopeful that this deal will provide an outstanding customer experience for existing and future clients.