Squarespace Inc. (NYSE: SQSP), a NYC-based design-driven platform helping entrepreneurs build brands and businesses online, entered into a definitive asset purchase agreement with Google, to acquire the assets associated with the Google Domains business, which will be winding down following a transition period.
The transaction is expected to close in the third quarter of 2023, and is subject to certain regulatory approvals and customary closing conditions.
This purchase includes approximately 10 million domains hosted on Google Domains spread across millions of customers. Under the terms of the agreement, Squarespace will honor all existing Google Domains customers’ renewal prices for at least 12 months following the closing of the transaction, as well as provide additional incentives to encourage Google Domains customers to build a website with Squarespace and adopt other Squarespace offerings. Further, Squarespace will be leveraging Google’s infrastructure powering the Google Domains product during the migration period in order to ensure the seamless transfer of domains.
Upon closing, Squarespace, a long- time reseller of Google Workspace, will become the exclusive domains provider for any customer purchasing a domain along with their Workspace subscription from Google directly for a minimum of three years. Squarespace will also provide billing and support services to Google Workspace customers that signed up for the service through Google Domains. Customers will continue to have the option to make changes to their domains account at any time.
Led by Anthony Casalena, Founder & CEO, Squarespace provides products that empower millions in more than 200 countries and territories with all the tools they need to create an online presence, build an audience, monetize, and scale their business. The suite of products range from websites, domains, ecommerce, and marketing tools, as well as tools for scheduling with Acuity, creating and managing social media presence with Bio Sites and Unfold, and hospitality business management via Tock.