Tucows to Buy Critical Path's Hosted Messaging Assets for $8M

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Internet services firm Tucows Inc. signed an agreement to buy the hosted messaging assets of Critical Path Inc. for $8 million in cash and the assumption of contractual debt.

The acquisition, expected to close Jan. 3, yields Critical Path's client list, hosted messaging communications infrastructure, goodwill and a software license for Memova Messaging.

Tucows will keep Critical Path's hosted messaging data centers in Denver and London as well as most agency employees in Toronto.

The acquisition is expected to strengthen Tucows' presence in hosted e-mail for Internet service providers and Web hosting firms. The Toronto company's goal is to be the leading provider of Internet service to ISPs.


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