Monday, July 9, 2007
Google Inc. announced today that it had agreed to acquire Postini. Postini describes itself as "a global leader in on-demand communications security and compliance solutions serving more than 35,000 businesses and 10 million users worldwide." Under the terms of the agreement, Google will acquire Postini for $625 million in cash, subject to working capital and other adjustments. The transaction is Google's third large one in the past year. It agreed to buy DoubleClick Inc. in April for $3.1 billion and in November closed a $1.65 billion purchase of YouTube Inc. Google still has a lot of cash to burn, so expect more acquisitions.
For those who want more, Postini 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, dial 800-289-0544 domestic and 913-981-5533 internationally.