Constant Contact Inc., a Waltham-based provider of e-mail marketing services, said it has bought a New York company called SinglePlatform for about $65 million.
SinglePlatform looks to help small businesses get found through Web and mobile searches.
In a statement, Constant Contact chief executive Gail Goodman said: “There are hundreds of online and mobile sites that consumers use to find local businesses and make purchase decisions. It’s literally impossible for time-starved small businesses to keep up with all of them. Almost 50 percent of searches for local businesses happen without a specific business in mind so it’s absolutely critical that small businesses are listed everywhere to ensure they are found when and where consumers are looking. SinglePlatform makes that incredibly simple – update your information once, and it’s delivered to all of the important search engines, apps, directories, and review sites.”
SinglePlatform will continue to operate out of its New York City offices, and all of SinglePlatform’s employees will join the Constant Contact team, Constant Contact said in a press release.
The release added: “The purchase price was approximately $65 million in cash, subject to certain adjustments. In addition, Constant Contact has granted approximately $5 million in cash and equity compensation for employee retention purposes. Under the terms of the definitive agreement, Constant Contact may be obligated to pay additional consideration of between $10 million and $30 million if SinglePlatform achieves certain revenue objectives over the next two years.”