The owner of HostGator and Domain.com, Endurance International has filed for a $400 mn Nasdaq IPO and is planning on spending $110 mn to buy the Indian domain name registrar, Directi, says a source.
Endurance is also expected to finance Directi’s new generic top level domain auctions up to $62 mn. Endurance International Group Holdings recently said in an SEC filing:
“In August 2013, we entered into a master share purchase agreement to acquire all of the outstanding capital stock of Directi from Directi Holdings, the seller, for an amount we estimate will be between $100 million and $110 million in cash or, at the election of the seller, a combination of cash and shares of our common stock, subject to the satisfaction or waiver of specified customary closing conditions and the achievement of specified financial targets.”
The company also plans to close the acquisition during the fourth quarter of 2013. “We paid $5 million to Directi Holdings, which will be credited against the purchase price and will be refunded if the acquisition does not close for specified reasons,” said Endurance International. The development was first reported by Domaincite.
The statement also put further light in the matter by saying that Endurance International has entered into agreements with entities affiliated to Directi Holdings to participate in the auction of new top level domain extensions. “We may be obligated to make aggregate cash payments of up to a maximum of approximately $62 million, subject to specified terms, conditions and operational contingencies,” said the statement.
Latest posts by Akshay Agarwal (see all)
- Indian Funky Nightwear Brand for Babies and Kids Online - November 11, 2020
- Children’s Boutique Clothing Manufacturers in India - September 25, 2020
- Kids Celebrity Designer – Aastha Agarwal to showcase her collection at India Kids Fashion Week in Jaipur - September 7, 2019