Mountain View, California - (The Hosting News) - July 9, 2007 - Google Inc. has entered into a definitive agreement to acquire on-demand communications security and compliance solutions firm, Postini, which serves over 35,000 businesses and 10 million users worldwide. Postini’s services include message security, archiving, encryption, and policy enforcement.
Postini’s offerings may be used to protect a company’s email, instant messaging, and other web-based communications. Under the terms of the agreement, Google will acquire Postini for $625 million in cash, subject to working capital and other adjustments, and Postini will become a wholly-owned subsidiary of Google. The agreement is subject to customary closing conditions and is expected to close by the end of the third quarter 2007. Google will continue to support Postini customers and invest in Postini products.
Eric Schmidt, Chairman of the Board and Chief Executive Officer of Google remarked, ”With this transaction, we’re reinforcing our commitment to delivering compelling hosted applications to businesses of all sizes. With the addition of Postini, our apps are not just simple and appealing to users — they can also streamline the complex information security mandates within these organizations.”
The company will host two conference calls and webcasts today to discuss the acquisition. The first conference call will be held at 6:30 a.m. Pacific Time (9:30 a.m. Eastern Time). The second conference call will be held at 9:00 a.m. Pacific Time (12:00 p.m. Eastern Time). To access either conference call, please dial 800-289-0544 domestic and 913-981-5533 internationally. Replays of both calls will be available until midnight, July 16, 2007 at 888-203-1112 domestically and 719-457-0820 internationally. The confirmation code for the replay of the first call is 3432256. The confirmation code for the replay of the second call is 9167451.
Hosted services, such as Google Apps and Postini solutions, are designed to provide organizations with high quality communications tools without the expense and hassle of traditional on-premise solutions. Google Apps, which includes Gmail, Calendar, Talk, Docs and Spreadsheets, and Personal Start Page, has been adopted by more than 100,000 businesses already. Postini solutions include Email Security, IM Security, Web Security, Message Archiving, Message Encryption, and Policy-enforced TLS.
Read more of this news »