Endurance International Group Announces Definitive Agreement to Acquire Constant Contact

BURLINGTON, Mass. & WALTHAM, Mass.--(BUSINESS WIRE)--Endurance International Group Holdings, Inc. (NASDAQ:EIGI), and Constant Contact, Inc. (NASDAQ:CTCT) today announced that the two companies have entered into a definitive agreement under which Endurance International will acquire all of Constant Contact’s outstanding shares of common stock for $32.00 per share in cash, valuing Constant Contact at approximately $1.1 billion. The value represents a multiple of 12x 2015 estimated adjusted EBITDA, including cash on its balance sheet. Including expected synergies, this represents a multiple of 7x 2015 estimated adjusted EBITDA. The offer represents a premium of approximately 23 percent over Constant Contact’s closing price of $26.10 on October 30, 2015. The transaction has been approved by the boards of directors of both companies.