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RealTime IT News

Critical Path Continues Shopping Spree

Critical Path Inc. continued its busy week Thursday with the acquisition of file management firm The DocSpace Co., its second acquisition in as many days.

The DocSpace Co. provides Web-based services for secure file delivery, storage and collaboration. It will be used to boost Critical Path's (CPTH) Internet messaging services.

Financial terms were not disclosed.

"Security and privacy are paramount to the future of e-business and communications on the Web," said Doug Hickey, Critical Path's president and CEO.

"DocSpace's fully integrated family of services for delivering, storing and collaborating on files using a standard Web browser will add a critical layer of value on top of our formidable messaging platform for the Internet markets."

Thursday's acquisition comes on the heels of Wednesday's purchase of FaxNet, a supplier of outsourced fax and messaging products and services. Both buyouts were made to give Critical Path a solid position in the Internet messaging market, the company said.