CentralNic scoops up KeyDrive for up to $55 million
Source: Domain Name Wire, July 16, 2018. https://domainnamewire.com/2018/07/16/centralnic-scoops-up-keydrive-for-up-to-55-million/
Deal includes cash and share consideration with earnout that could make it a $55 million total price tag.
CentralNic (AIM: CNIC) announced today that it has agreed to acquire KeyDrive S.A. for up to $55 million.
The deal includes initial consideration of $35.8 million, made up of $16.5 million in cash and the rest in shares of CentralNic. That equals an enterprise value of $44.5 million after considering debt and other assumptions.
An additional $10.5 million will be paid as an earnout, with at least 15% of that in cash.
KeyDrive is the parent company of Key-Systems, Moniker, BrandShelter and other domain name brands. In the 2017 financial year, it grossed $58.26 million and had an adjusted EBITDA of $5.87 million.
CentralNic is a registry services provider and owns retail registrars including Instra and Internet.bs.
Merger talks started no later than the first quarter of this year.