Print
Email
Print Edition Stories
Vistaprint NV, co-headquartered in Lexington and the Netherlands, plans to buy do-it-yourself website company Webs Inc. for $117.5 million in cash and stock.
According to a release from Vistaprint, buying Maryland-based Webs Inc. is “in line with Vistaprint’s recently announced strategy to be more proactive in its evaluation of acquisition opportunities that will help lay foundations for future growth.” The purchase comes on the heels of the November acquisition by Vistaprint of Dutch photo book and photo product company Albumprinter for approximately $82 million.
Webs Inc. has approximately 50 full-timers, the release noted, and is projected to close out 2011 with approximately $9 million in revenue. Since it was founded in 2001, Webs Inc. has served more than 40 million customers worldwide, and currently has more than 100,000 paying subscribers the companies said. Webs Inc. runs the sites Webs.com for DIY website creation, Pagemodo.com for small businesses to make Facebook pages, and micro-business CRM tool ContactMe.com.
Vistaprint will keep the Webs brand, and all management and employees of Webs Inc. will become Vistaprint employees once the sale closes, which is expected to be within a month. Upon the closing, Vistaprint will pay $100 million in cash and $17.5 million in shares to buy Webs Inc.
In January 2010, Vistaprint acquired Soft Sight Inc., the parent company of Threadsmith.com, a software-enabled custom-embroidered clothing service based in Endicott, N.Y., for an undisclosed amount.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
