By Jared Meyer
jared@newsroom.byu.edu
Orem based company MyComputer.com announced Wednesday, Oct. 18, it is being acquired for $57 million.
Silicon Valley-based NetObjects was interested in Mycomputer.com because it is the industry leader in providing software for e-business. NetObjects specializes in building Web pages for businesses.
'We now have the potential of creating one of the single largest business to business providers of small business infrastructure,' said Samir Arora, CEO of NetObjects.
'We looked for companies that were really focused on what happens to make businesses, especially successful online entrepreneurs. We identified MyComputer.com as the perennial provider of these services.'
Josh James, CEO and co-founder of MyComputer agreed.
'Bringing these things together is really a great combination. After you have your Web site, we have all the tools you need, but we don't help you make your Web site. NetObjects is the clear leader, and they really pioneered building Web sites,' he said
This acquisition is the beginning of a trend between Silicon Valley and Utah Valley, Arora said. He said he plans on making Utah the company's center of expertise for online services.
'We intend to move and consolidate several of our functions from Silicon Valley to Utah,' Arora said.
There are many advantages for the tech industry to move to Utah, James said.
'You don't have the turnover ratio here like they do in Silicon Valley. Also the cost of living here compared to Silicon Valley is much lower. That allows companies to pay their employees what their worth,' James said.
Utah Gov. Mike Leavitt was on hand to praise the acquisition of MyComputer.com.
'This is a classic example of what can, will and should happen between this Silicon Valley and Utah Valley alliance,' he said.
James said one of the conditions of the deal is there will be no restructuring of the employees at MyComputer.com
James will serve as an executive vice president of NetObjects and general manager of MyComputer.com, according to a statement made by the company. The other co-founder and president of MyComputer.com, John Pestana will serve as a vice president of NetObjects and MyComputer.com.
James and Pestana are former BYU students and began MyComputer.com in 1996 as part of an entrepreneurial class at BYU, James said.
MyComputer.com has over 1 million customers worldwide and employs 140 people.
According to NetObjects, there are four million businesses worldwide that use NetObjects tools to build their site.