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AcceptCentralNic, the internet platform business which derives revenues from the global sale of domain names, is pleased to announce that it has conditionally agreed to acquire the entire issued share capital of the companies forming the Instra Group for a total consideration of AU$33 million, consisting AU$30 million in cash and AU$3 million in shares in CentralNic Group plc. The total consideration will be adjusted for working capital balances at completion.
Instra Group is a privately owned domain name retailer serving the global market with customers in the majority of countries. Instra Group supplies its customers with domain names for over 150 country codes (the equivalents of .co.uk for over 150 countries) as well as for all new Top-Level Domains available to consumers. The company offers three main services; (i) domain portfolio registration allowing corporate clients to build websites and protect their brands online all over the world; (ii) domain names and website hosting for small businesses and individuals; and (iii) white label domain sales platforms. The Acquisition will extend CentralNic’s capabilities and provide access to new growth markets and it will significantly increase CentralNic’s retail offering. Instra Group has strong recurring revenues at circa 57%, high margins and is profitable and cash generative.
Ben Crawford, CentralNic’s CEO commented:
“This has been a year of growth for CentralNic from both an operational and financial perspective, and this deal is transformative for the Group as we continue on our growth strategy. Instra Group is a fast growing, robust and global business and we look forward to integrating Instra into CentralNic. This acquisition will grow our current revenues by 70% and extend our retail capabilities to serve customers in the fast growing emerging markets, globally. We are delighted with the support shown by both new and existing investors for this Placing.”
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