Escrow.com, today announced the acquisition of Agreed.com, from Thought Convergence, Inc.
“This acquisition brings together the only two licensed escrow companies in the United States that have products, services, and systems specifically designed for the domain community and online personal property transactions.”
The terms of the transaction were not disclosed.
For Thought Convergence, Inc it marks the second sale of a business in as many weeks.
Last week Thought Convergence, Inc announced they sold Aftermarket.com to Igloo.com although its still not clear if they acquired the domain name itself or just the business and the backend operating system.
This press release is similar unclear as to whether the domain name Agreed.com came with the sale as the press release states that the “Agreed.com URL will be redirected to Escrow.com while the technologies are integrated. Agreed.com will no longer accept new escrow transactions, and all outstanding transactions will be completed by the company. Mr. Kubba will provide consulting services during the transition and on future products.”
So its sounds like the domain name did not come with the sale
Here is the rest of the press release:
Brandon Abbey President and Managing Director of Escrow.com is quoted as saying
“By integrating the technologies of our companies, we will be able to offer a more comprehensive set of options to the domain community,”
“As the worldwide leader in providing escrow services for “the real estate of the Internet”, it is important that we react to the needs and expectations of our customers as the global marketplace changes. Agreed.com has developed unique and proprietary technology that our clients will now be able to enjoy, while bringing together the only government-licensed and audited, insured, and bonded personal property Internet escrow companies in the world.”
Ammar Kubba, CEO of Agreed.com and its parent company, Thought Convergence, Inc., said,
“We’ve spent the past several years building a powerful and intuitive online escrow platform for the domain community. Escrow.com will now be able to scale more rapidly and successfully deliver additional services to the global market. I look forward to working with Brandon and his team throughout the transition and for years to come.”
“The rapidly evolving domain industry needs a trusted third party that is neutral, transparent, and independent, which is why joining Escrow.com was the obvious choice for us. They’ve been in this business for 15 years, and they’ve clearly withstood the test of time and trust. Escrow.com has always been a pillar of the domain industry, and they’re the only ones that I would trust with our future business and that of our customers.”
Brandon Abbey stated, “When Ammar first approached me with this opportunity, I felt that it would be a good thing for the domain industry, and, since then, we’ve both put a lot of time and effort into making it happen.” He added, “This will be a smooth and successful transition for all concerned.”