NEW YORK, NY--(BUSINESS WIRE)--June 5, 2000--Register.com,
Inc. (Nasdaq: RCOM) today announced that it has acquired
Inabox Inc., a technology firm specializing in the design and
development of online building tools for Internet service
providers (ISPs), Web hosting companies and community sites.
Under the terms of the agreement, register.com acquired Inabox
for $1 million cash, 260,000 shares of register.com common
stock, and up to an additional 40,000 shares contingent on
certain conditions being met by Inabox.
Inabox's sophisticated yet easy to install WebSiteNOW! (TM)
software will add value to register.com's product offering for
the company's "indirect" distribution channel, a network of
co-branded and private label Web sites that includes ISPs and
web-hosting companies. Register.com's indirect distribution
partners will now be able to offer their customers a variety
of online tools to facilitate launching and managing a
professional Web site. WebSiteNOW!(TM) capabilities include
private branding, multi-language support, easy upload of
images and documents, site maintenance features, security,
search features and comprehensive statistics and information
to track customer usage patterns. By using these tools, ISPs
and Web hosting companies will be able to convert new domain
name registrants to additional value-added products and
services.
"We're very excited about Inabox. The company has an
awesome technology and smart and dedicated professionals, all
of whom we're proud to welcome to the register.com team," said
Richard Forman, President and CEO of register.com. "Inabox's
WebSiteNow!(TM) software provides our indirect distribution
partners the tools they need to attract and retain their own
customers by allowing end users to establish a presence on the
Web quickly and easily. This acquisition reinforces our
commitment to the indirect distribution channel for domain
name registration - an important part of register.com's
strategy."
"By joining with register.com, a leader in the domain name
registration arena, we're creating a comprehensive solution
for Web site registration and development," said Rafael
Collado, Chairman and CEO of Inabox. "This combination will
allow us to set a new standard for facilitating and expanding
users' Web presence."
Register.com currently utilizes Inabox software to power
its FirstStepSite(TM), a free, template-driven, three-page Web
site offered through the company's direct channel,
www.register.com. Register.com intends to adapt and develop
Inabox's technology across additional applications and
distribution channels.
As part of the acquisition, Inabox will be fully integrated
into register.com, and Inabox employees will become full-time
employees of register.com. The acquisition will be accounted
for using the purchase method of accounting.
About register.com
Register.com, Inc. (www.register.com) provides domain name
registration and other Internet services for individuals and
businesses that wish to have a unique and branded identity on
the Internet. Register.com was the first registrar to compete
in the domain registration market after the US government
deregulated the industry in 1999. In addition, the company was
selected as one of the first five "test bed" registrars
accredited by ICANN, the Internet Corporation for Assigned
Names and Numbers.
Register.com was ranked among the top 100 Web sites by PC
magazine in July 1999 and listed as one of Fortune Magazine's
25 Products to Watch in November 1999. Register.com was also
ranked among the Top 25 Online Merchants by Nextcard for
January, February and March of 2000. The Company was founded
in 1994 and is based in New York City. For investor
information, visit our IR website at
http://investor.register.com.
About Inabox Inc. (www.inabox.com)
Prior to its acquisition by register.com, Inabox Inc. was a
privately held technology firm located in New York, focusing
on web Commbuilding, developing and integrating community
communication tools (e.g., chat, buddy lists, threaded
messaging, etc.), and providing turn-key online public and
private communities for ISPs, businesses and communities of
interest. Among its clients and strategic partners are
telephone companies, portals and online content sites, Web
hosting companies and ISPs. Inabox is the developer of
WebSiteNOW!(TM), a leading, fully customizable online website
creation software (www.websitenow.com). Additional information
about Inabox is available by calling 212.666.1643 and through
Inabox's website at www.inabox.com.
Statements in this announcement other than historical data
and information constitute forward-looking statements that
involve risks and uncertainties that could cause actual
results to differ materially from those stated or implied by
such forward-looking statements. The potential risks and
uncertainties include, among others, potential volatility in
register.com's stock price, uncertainty of future revenue and
profitability, uncertainty of regulation related to the domain
registration business and the Internet generally, increasing
competition in the domain name registration business, customer
acceptance of new products and services offered by the company
in addition to or as enhancements of its registration services
and the rate of growth of the Internet and online commerce,
and other factors detailed in our filings with the Securities
and Exchange Commission, including our Quarterly Report on
Form 10-Q for the period ended March 31, 2000 and our
Registration Statement on Form S-1, as amended, filed in
connection with our initial public offering of common stock.
CONTACT: Register.com, Inc.
Shonna Keogan, Public Relations
212/798-9149
skeogan@register.com
or
Stephanie Marks, Investor Relations:
212/798-9169
smarks@register.com
