CentralNic Acquires KeyDrive – Essentially Doubling in Size Overnight
Source: DNJournal, July 16, 2018. http://www.dnjournal.com/archive/lowdown/2018/dailyposts/20180716-3.htm
CentralNic, a UK-based public company that is already an important player in domain registry management and the operation of retail registrars, has just gotten considerably bigger. The company’s board of directors announced today that they have agreed to a deal that will allow CentralNic to acquire the entire share capital of Luxembourg-based KeyDrive S.A. and its subsidiaries for an initial consideration of $35.8 million (a figure that includes combination of cash and CentralNic stock according to a report at ProactiveInvestors.co.uk) plus a performance-based earn-out of up to $10.5 million. The acquisition represents a reverse takeover under the AIM rules for Companies and is conditional upon shareholder approval.
KeyDrive is a global technology business and leading domain registrar that manages nearly 6 million domain names on behalf of companies, resellers and individuals. They are the parent company of several registrars including Moniker.com and DomainDiscount24.com, as well as reseller portal RRP Proxy.
CentralNic CEO Ben Crawford said, “The acquisition of KeyDrive is a milestone for the company. On completion, the enlarged group will have doubled in size and will have the technology platforms, expert staff, vision and drive to rival the industry’s traditional leaders.”
Alex Siffrin, the founder and CEO of KeyDrive will become Chief Operating Officer of the Company, and will also be a significant shareholder. Crawford said, “I am personally excited to be welcoming Alex to CentralNic. His experience, shared values and standing within the industry will be a tremendous benefit to the group and a great addition to the management team”