Folsom firm buys consumer e-mail operation
November 30, 2001
CP Software Group Inc. of Folsom has agreed to buy the consumer e-mail messaging business of Commtouch Software Ltd. (Nasdaq:CTCH), a tech company based in Mountain View and Israel.
Terms weren't disclosed. CPSG is a venture development company specializing in the hands-on building and rebuilding of technology companies, particularly those in software.
CPSG will combine its purchase with other e-mail businesses it owns, Commtouch said in a statement, "to create one of the largest consumer e-mail companies." The purchase includes the ZapZone webmail service. CPSG is assuming all aspects of the consumer e-mail operation, including systems and customer contracts.
CPSG provides e-mail for more than 10 million users of its worldwide business-to-consumer customers, CPSG president David Saykally said in a statement.
The company operates several companies, including Uniplex, InterestAlert and Today Systems. CPSG employed 150 people as of this autumn, including 20 people in Folsom.
Commtouch sells hosted messaging and collaboration services to service providers and corporations.
Copyright © 2001 American City Business Journals Inc.