Acquisition consolidates worldwide email change of address services under one roof.
Newton, MA (October 30, 2008) – FreshAddress, the leading provider of permission-based email change of address (“ECOA”) services, today announced it has signed an agreement to purchase Return Path’s ECOA business. This acquisition consolidates the only two consumer-driven email change of address services under the FreshAddress brand, creating a centralized global database of all consumer email address updates.
"We've combined the industry’s two leading ECOA providers into one seamless service" said Bill Kaplan, CEO of FreshAddress. “Now companies, nonprofits, and agencies will have one easy way to update their email address databases with 100% of the email address changes provided by consumers worldwide."
Through this purchase, FreshAddress will acquire Return Path’s old/new email address change-pairs, hygiene technology, client and partner relationships, related patents, among other provisions. The acquisition establishes FreshAddress as the undisputed source for email change of address information and represents the beginning of the company’s aggressive growth-through-acquisition strategy.
"While sharpening our laser focus on delivering the best email deliverability services available, including our recent acquisition of Habeas, we decided to sell our ECOA business to FreshAddress," said Matt Blumberg, CEO of Return Path. "It was a tough decision since ECOA was Return Path's original business in the email industry. By selling our ECOA business to FreshAddress, our long-time esteemed competitor, our clients will realize a significant improvement in match rates and resulting revenue generation."
For ten years, FreshAddress’s ECOA service has been helping businesses and nonprofits to reconnect with lost customers and donors, enabling them to maximize their revenues. To date, FreshAddress has processed over 1 billion email addresses for some of the biggest companies in database and email marketing, including Redcats USA, LendingTree, Reader’s Digest, and Cornerstone Brands, among others.
For consumers, FreshAddress provides a free, convenient, and secure way for them to manage email address changes with e-newsletters and websites, as well as personal contacts.
The agreement was signed on October 17, 2008 and is expected to close by mid-December if not sooner.