CentralNic is set to grow revenue by almost three quarters by acquiring Australian registrar Instra for $23.7 million.
The acquisition is for AUD 33 million, AUD 30 million of which will be in cash.
CentralNic plans to raise £10 million ($15 million) with a share placement to help fund the deal.
“This acquisition will grow our current revenues by 70% and extend our retail capabilities to serve customers in the fast growing emerging markets, globally,” CEO Ben Crawford said in a statement to the markets.
Instra had revenue of AUD 14.8 million ($10.7 million) in its fiscal 2015, and was profitable.
CentralNic’s revenue for the first half of this year was £4.4 million ($6.8 million).
The deal makes CentralNic, which started life as a registry, a much larger player in the registrar market.
It acquired Internet.bs for $7.5 million a couple of years ago, which brought in $2.8 million of revenue in the first half of this year.
Instra offers 150 ccTLDs and all the gTLDs, according to CentralNic.