Tucows Inc. Company Profile
Software and services from Tucows help keep the Internet moving. The company provides wholesale Internet and back-office services to more than 6,000 Web-hosting companies, Internet service providers, and others around the world. Accredited by ICANN, Tucows provides registration for such top domains as com., net., and org., as well as country-code domains, including ca. and uk. In addition to domain services, Tucows maintains an online repository of software available for downloading. Its library of "freeware" and "shareware" software boasts more than 40,000 titles. Tucows also offers online tools to help developers promote and sell their titles. Dutch investment firm STI Ventures owns more than 26% of Tucows.
Address: 96 Mowat Ave.
Toronto, Ontario M6K 3M1, Canada
Fiscal Year End: December
Revenue (2004): 44.70 M
Revenue Growth (1 yr): 20.20%
Chairman: Stanley B. Stern
President, CEO, and Director: Elliot Noss
CFO: Michael Cooperman
Network Solutions, Inc.
Tucows to acquire Critical Path's hosted messaging infrastructure and customer base
Wednesday December 14, 4:01 pm ET
Tucows diversifies revenue stream, adds customers and grows infrastructure
TORONTO, Dec. 14 /PRNewswire-FirstCall/ - Tucows Inc. (AMEX:TCX, TSX:TC) today announced that it has signed a definitive agreement with Critical Path, Inc. to acquire substantially all of Critical Path's hosted messaging assets, including the customer base, hosted messaging communications infrastructure, and other related assets, such as goodwill and a software license for Memova(TM) Messaging, for up to US $8.0 million in cash plus the assumption of some related contractual liabilities. Tucows will maintain the hosted messaging data centers in Denver, Colorado and London, England. Tucows will also offer employment to the majority of Critical Path's hosted messaging operations and support teams located in Toronto, Ontario.
"With this acquisition, Tucows becomes a leader in hosted email, especially hosted email for Internet service providers and web hosting companies," said Elliot Noss, President and CEO, Tucows Inc. "It is consistent with our strategy to be a leading provider of Internet services to service providers. It will deepen our relationships with existing customers, add a number of new service provider customers and further diversify our revenue streams."
"We believe our plan will result in a seamless transition for our new customers," said David Woroch, Vice President of Sales & Marketing, Tucows Inc. "We intend to grow the hosted email business by providing a greater customer experience through our focus on the needs of our service provider customers and leveraging the features of the Memova Messaging software."
"We are excited about the relationship with Tucows," said Mark Ferrer, CEO and Chairman, Critical Path. "It gives Critical Path the ability to continue to offer multiple delivery options for our software, while allowing us to focus on our core strength - software development."
The acquisition will be accounted for as a purchase transaction and has been approved by both companies' boards of directors. The acquisition is anticipated to close January 3, 2006, and is subject to standard closing provisions and conditions.
A podcast and a FAQ concerning this announcement are available here: http://resellers.tucows.com/about/investor/he1
Source: Tucows Inc.