Alphabet Inc. is winding down its Google Domains business and selling its assets to Squarespace Inc., according to a statement Thursday.
Squarespace is acquiring the assets associated with the business for about $180 million, according to a person familiar with the matter, who asked to not be identified because the financial details of the transaction aren’t public.
The assets include “10 million domains hosted on Google Domains spread across millions of customers,” according to the statement, confirming a Bloomberg News report.
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“We are exceptionally proud to be chosen to serve the customers of the Google Domains business,” Anthony Casalena, founder and chief executive officer of Squarespace, said in the statement. “Domains are a critical part of web infrastructure and an essential piece of every business’s online presence.
Squarespace said it will honor Google Domains customers’ renewal prices for at least 12 months following the close of the deal. Squarespace will also become the exclusive domains provider for customers who purchase a domain from Google along with their Workspace subscription, according to the statement.
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“Supporting a smooth transition for customers over the coming months, with the help of the Google Domains team, is our top priority,” Matt Madrigal, vice president and general manager of merchant shopping at Google, said in the statement. Squarespace can provide an integrated experience of purchasing and managing domains along with offering other tools that these customers may need to build their online presence.”
The deal is slated to close in the third quarter.
Representatives for Google and Squarespace weren’t immediately available to comment on the deal price.
