NASHUA, N.H., Aug. 18, 2014 (GLOBE NEWSWIRE) -- SMTP, Inc. (Nasdaq:SMTP), a global provider of cloud-based email services, today announced that it has completed the acquisition of SharpSpring, LLC's assets. SharpSpring offers a next-generation marketing automation solution rivaling the industry's top marketing-automation platforms in terms of features, functionality and performance. SMTP believes the acquisition will extend the Company's product portfolio, accelerate revenue growth and provide significant long-term strategic benefits. In connection with the acquisition, SMTP paid $5 million in cash at the time of closing and will pay up to an additional $10 million in cash and stock pursuant to an earn-out provision which is tied to achieving aggressive growth targets.
For additional details about the acquisition, please review the company's current report on Form 8-K filed with the Securities and Exchange Commission on August 15, 2014.
About SMTP, Inc.
SMTP (Nasdaq:SMTP) is a leading provider of cloud-based email services offering solutions ranging from sophisticated marketing automation systems to cost-effective SMTP relay services. All of our services are built on our robust platform for email delivery, capable of scaling individual senders to hundreds of millions of emails per month. While we have industry-leading technology, we differentiate our offerings with our service: all of our services are backed by 24x7 service and support. We operate in 130 countries and provide multi-lingual support, too. SMTP, Inc. is a dividend-paying, publicly-traded company headquartered in Nashua NH., and can be found on the web at http://www.smtp.com.
Safe Harbor Statement
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continues," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing new customer offerings, changes in customer order patterns, changes in customer offering mix, continued success in technological advances and delivering technological innovations, delays due to issues with outsourced service providers, those events and factors described by us in Item 1.A "Risk Factors" in our most recent Form 10-K; other risks to which our Company is subject; other factors beyond the Company's control.