Google Inc. announced today that it has signed a definitive agreement to acquire Postini, an on-demand communications security and compliance solutions serving more than 35,000 businesses and 10 million users worldwide. Postiniâ€™s services â€“ which include message security, archiving, encryption, and policy enforcement â€“ can be used to protect a company’s email, instant messaging, and other web-based communications. Under the terms of the agreement, Google will acquire Postini for $625 million in cash, subject to working capital and other adjustments, and Postini will become a wholly-owned subsidiary of Google.
â€œWith this transaction, weâ€™re reinforcing our commitment to delivering compelling hosted applications to businesses of all sizes. With the addition of Postini, our apps are not just simple and appealing to users â€“ they can also streamline the complex information security mandates within these organizations,â€ said Eric Schmidt, Chairman of the Board and Chief Executive Officer of Google.
Originally posted on July 9, 2007 @ 8:45 am