CentralNic Group PLC to acquire Team Internet for US$48m
Source: CentralNic, November 15, 2019.
CentralNic Group PLC (AIM: CNIC), the fastest growing company in the domain industry, announced today it has entered into an agreement to acquire Team Internet, an industry leader in domain name monetization platforms for thousands of domain investors from around the globe. CentralNic will be retaining the Team Internet brands, platforms and all staff, and Team Internet partners can expect no disruption in service. The acquisition of Team Internet adds to the breadth of expertise and offerings CentralNic has within the domain industry and provides significant opportunities to drive cross selling by expanding both customer base and product set. Adding web services to the CentralNic group of companies provides a strategic fit for CentralNic’s stated strategy to derive recurring revenues from domain related technologies.
Ben Crawford, CentralNic CEO, said: “At CentralNic, we have been observing Team Internet’s progress over the years as they have grown to dominate the domain parking space and always-leading innovation in the traffic monetization industry. We are thrilled to now be making them part of our group. This acquisition is the next step in our mission of supplying every customer type in the domain industry with world class services. The future is looking very bright for Team Internet as we will support the development of their industry-leading and rapidly growing platforms, including the traffic marketplace TONIC. and ParkingCrew, with its patented monetization for HTTPS traffic which domain investors are rushing to sign up to.”
The total consideration is up to US$48m comprised of a cash consideration of US$45m, of which US$3m is deferred, and a share consideration of US$3m payable in Group shares. Team Internet’s success is due in no small part to the founders and management team, all of whom have committed to long term contracts with CentralNic. Founders Nico Zeifang, Mario Witte and Stefan Wiegard, CEO Markus Ostertag and CFO Gaelle Lallement will be staying on, along with the entire Team Internet staff.
“We couldn’t be happier with the joining of Team Internet into the CentralNic Group,” stated Markus Ostertag, Team Internet CEO. “This is an excellent fit for us and we appreciate the expertise and leadership CentralNic brings to all aspects of the domain industry. Having already worked with some of the brands in the group, we know we are set for many great shared successes. Our partners can continue to trust in Team Internet’s ongoing commitment in delivering forward-thinking and profitable domain monetization solutions. Our business continues to grow and our joining into the CentralNic team is a strong next step toward a prosperous future.”
For further information:
CentralNic Group PLC
Ben Crawford, Chief Executive Officer
+44 (0) 203 388 0600
About CentralNic Group PLC
CentralNic (AIM: CNIC) is a London-based AIM-listed company which develops and manages software platforms allowing businesses globally to use the internet for their own websites and email, as well as protecting their brands online. CentralNic operates a recurring revenue business model as sales of internet domain names and add on web presence services are sold on an annual subscription basis.
CentralNic operates globally with customers in over 200 countries. The Company’s core growth strategy is identifying and acquiring cash-generative businesses with annuity revenue streams and exposure to growth markets, and migrating them onto the CentralNic software and operating platforms.
For more information please visit: www.centralnicgroup.com