According to a statement released on Thursday, Alphabet Inc. is winding down its Google Domains business and selling its assets to Squarespace Inc.
Squarespace is acquiring the business’s assets for approximately $180 million, according to a person familiar with the matter who requested anonymity because the terms of the transaction are confidential.
According to the statement, the assets include “10 million domains hosted on Google Domains spread across millions of customers,” corroborating a Bloomberg News report.
In a statement, Squarespace’s founder and CEO, Anthony Casalena, said, “We are extremely proud to have been selected to serve the customers of the Google Domains business.” “
Domains are a vital component of the web’s infrastructure and an essential element of every company’s online presence.
The transaction is expected to close in the third quarter.
Squarespace stated that it will honor Google Domains customers’ renewal prices for at least a year after the transaction closes.
According to the statement, Squarespace will also become the exclusive domains provider for consumers who purchase a domain from Google along with their Workspace subscription.
Matt Madrigal, vice president and general manager of merchant purchasing at Google, said in a statement, “Supporting a seamless transition for customers over the next few months with the help of the Google Domains team is our top priority.”
Squarespace can offer an integrated experience for purchasing and managing domains, as well as other tools that these clients may require to establish an online presence.
Google and Squarespace representatives were not immediately available to comment on the deal price.