I just received a press release from Escrow.com announcing that the company has acquired the Agreed.com escrow service from Thought Convergence. Agreed was granted its escrow license from the California Department of Business Oversight in October 2012, and the escrow service was introduced during NamesCon. Terms of the acquisition have not been released given that both companies are closely held.
Although this news was surprising to me, it was somewhat less surprising given the recent news of Thought Convergence’s sale of Aftermarket.com to Igloo. It made sense for Thought Convergence to operate an escrow service that worked closely with its domain resale marketplace, but after the sale of Aftermarket.com, it probably didn’t fit within the company’s ecosystem.
This acquisition allows Escrow.com to acquire the updated technology and platform that Agreed uses, which should benefit customers as well as the company. For the time being, Agreed.com will forward to Escrow.com, and the Agreed technology will be integrated with Escrow.com’s technology.
The press release announcing the news is published below: