Mail.com Changes Name, Sells Consumer E-Mail Business
The reason for the change, the company said, was to reflect more accurately its goal to focus on outsourced messaging services following its acquisition of Swift Telecommunications and the EasyLink Services business from AT&T.
The New York company also sold its consumer e-mail business to Internet telephony services provider Net2Phone Inc. Its consumer e-mail business includes nearly 5 million active users, EasyLink Services said. It also said Net2Phone acquired the rights to provide targeted e-mail advertising and permission-based marketing services to advertisers and the right to provide e-mail directly to consumers.
Under terms of the agreement, Net2Phone paid EasyLink $3 million in cash and will pay an additional $500,000 contingent upon the "satisfaction of certain milestones." Neither company would specify those milestones.
"Adopting the EasyLink name and brand identity is a logical next step in our strategy to focus exclusively on outsourced messaging services," said Thomas Murawski, EasyLink's CEO.
In conjunction with its name change, EasyLink's Class A common stock yesterday began trading on the Nasdaq exchange under the ticker symbol EASY.