Windows Live Mail has been acquired by Procreate for $52.5 million, a deal that is expected to close in the second quarter of next year.
The deal was announced in a statement Monday by the companies owners, Microsoft and Procreate.
Microsoft says Procreate has an extensive portfolio of software and services, including email, cloud services, and online advertising.
Microsoft says ProCreate will operate the Procreate online advertising platform.
“We’re thrilled to be partnering with Microsoft to build a great new company that is focused on bringing people together and sharing the power of their work and passions online,” Procreate CEO Andrew Pimlott said in the statement.
Pimlett said that the acquisition will create approximately 10,000 jobs at Procreate and will add $50 million to the company’s bottom line.
“We’re committed to helping people live a happier and healthier life,” Pimpott said.
Procreate is expected soon to announce the new name for its business, as it looks to expand beyond the U.S.
Procreation is an email and cloud service.
The company offers a number of products, including a Microsoft Office 365 service that is the same as the email and Office 365 cloud apps.
Microsoft has not announced a new cloud product, but Microsoft has said it plans to release a new version of Office on mobile devices sometime in 2019.
Procreate is also developing an email app that it hopes to launch in the fourth quarter.