New Delhi: Google Domains’ business is coming to an end after a “transition period,” with Squarespace, a design-driven platform that helps entrepreneurs build brands and businesses online, handling business and properties.
Squarespace announced on Thursday that it has “entered into a definitive asset purchase agreement with Google, under which Squarespace will acquire assets associated with the Google Domains business”.
The purchase includes “nearly 10 million domains hosted on Google Domains spread across millions of customers”. The transaction, which is subject to regulatory approval and customary closing conditions, is expected to close in the third quarter of 2023.
While most of the benefits of this transaction will be realized in 2024 and beyond, Squarespace believes it will be significantly accretive to its business in terms of revenue and free cash flow over time.
“In line with our efforts to accelerate our focus, we have entered into a definitive agreement with Squarespace to acquire the customer accounts of the Google domain registrar business,” said Matt Madrigal, vice president and general manager of Merchant Shopping at Google. a statement.
Furthermore, Google mentions on its support page that domain name registration and DNS delegation users will not be affected by the migration to Squarespace. Once they become a Squarespace customer, they will be able to manage additional services (subject to availability) through their Management Console.