CentralNic, a world’s leading domain registry provider acquired the Ideegeo Group Ltd. CentralNic announced yesterday that it acquired international domain name retailer Ideegeo Group Ltd for up to NZD$5.2 million (c.$3.4m USD).
Related Article: CentralNic Group to acquire Hexonet for €10.0 million
CentralNic acquired Ideegeo Group Ltd
Earlier it acquired Hexonet Group, operates in Canada and Germany. It does the subscriptions of the domain names either directly or through thousands of resellers over 110 countries. It deals with over 3.8 million domains on its platforms. This acquisition will expand CentralNic’s domains by c.28%.
The CentralNic is paying €7.0 million for all shares in Hexonet. On its first anniversary, it will pay up to €3.0 million either by cash or shares.
Ben Crawford, CEO of CentralNic, said: “This transaction marks another important step in CentralNic’s strategy to rapidly consolidate the global recurring revenue domain name industry. Like CentralNic, Hexonet has a high level of recurring revenue and excellent customer retention. Its technically advanced global reseller platform and expert staff further boost our market share and competitiveness. We look forward to providing further updates in the future.”
CentralNic announced yesterday that it acquired international domain name retailer Ideegeo Group Ltd for up to NZD$5.2 million (c.$3.4m USD).
It completed totally the share capital of Ideegeo Group Limited which is a privately owned domain name retailer. It provides services to a customer base from New Zealand.
It has been purchased in $5.2 million NZD (c.$3.4m USD) out of which $520,000 NZD (c.$0.3m USD) need to be paid until May 2021.
Ideegeo Group Ltd
Ideegeo has 180,000 domains operated through a retail website iwantmyname.com. The company’s staff will continue but Customer Engagement Product Planner and Manager will be appointed from the Ideegeo’s one of the founders.
Currently, the Ideegeo only sells domain names so there are chances of cross-selling to offer IDeegeo’s 80,000 customers with the CentralNic. The extended product offers includes the hosting, SSL certificates and other additional subscription products and services.
Ideegeo sells its Domain name subscriptions to the small business customers. The Ideegeo’s revenue during the financial year 31 March 2019 was c.$6.2 million NZD (c.$4.2m USD).
Ben Crawford, CEO of CentralNic
Ben Crawford, CEO of CentralNic, said, “The acquisition of Ideegeo adds more to CentralNic’s retail group than additional earnings, customers, and synergies. Its leading User Interface and Customer Engagement solutions, and the team that created them represent a further differentiator for CentralNic’s global retail business from the competition to support our organic growth.”