Web.com Agrees to $2 Billion Sale
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Web.com Agrees to $2 Billion Sale

After Siris Capital Group proposed an all cash bid worth $2 billion, Web.com Group has agreed to this an acquisition. The transaction will be valued at $25 per share. The deal is subject to approval of the agreement by all stakeholders, in a unanimous discussion. Following the filing with the Securities and Exchange Commission, there will be a special meeting conducted by stakeholders.

“This transaction will provide shareholders with immediate and substantial cash value, while also providing us with a partner that shares in our commitment to customers and employees and can add strategic and operational value,” said CEO and Chairman David Brown. “Based on our extensive engagement with Siris over the past two months and our prior discussions with them, we are confident that Siris’ support will enable Web.com to execute on its strategy and next phase of growth.”

Siris may also solicit alternative acquisition proposals from the date of agreement until August 5. Web.com is been advised by Cooley LLP in the sales process, and Siris Capital hired Sidley Austin, a Chicago based legal counsel.

“Web.com has a 20+ year legacy of leadership in the domain market with strong brand equity and a growing portfolio of attractive, value-add online and marketing services for SMBs,” said Executive Partner of Siris Capital Robert Aquilina. “Siris looks forward to nurturing Web.com’s core domain business, supporting and anticipating the diverse needs of the company’s customers, and driving new opportunities for innovation and growth.”

This acquisition is expected to close in the fourth quarter of 2018.

Anirudh Menon
Anirudh Menon
I have adorned multiple hats during my professional journey. My experience of 14 years comes in areas like Sales, Customer Service and Marketing. My journey as a professional writer started 5 years back, when I started writing for an in-house magazine for my employer. Having successfully delivered many in-house projects, it encouraged me to take my skill to the world. As on day, I have written articles, blogs website content for various industries like Information Technology, Start-up, Retail and Government. The subjects that I have covered range from Digital Marketing, SAP Cloud Platform, Cloud Computing, Content Marketing , Politics. Enhancement is a process and I constantly thrive to add more subjects in my portfolio. Over and above content writing, I also train language and communication to students who want to brush up their speaking skills. I am a part time trainer for IELTS coaching and also work as a budding voice over artist.
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