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MMX could announce acquisition this week
Kevin Murphy,
May 2, 2018, 06:57:59 (UTC),
Domain Registries
New gTLD registry MMX could announce plans to be acquired as early as this week.
The company told the markets last week that its delayed 2017 financial results would be announced in “early May”, along with the “conclusion of the strategic review” it has been teasing investors about for almost a year.
The “strategic review”, announced last May, is exploring “how MMX can participate in a broader industry consolidation” including acquisition or merger.
MMX said last week that “constructive discussions continue to progress”.
It has previously described the duration of the negotiations, initially slated to close last September, as “frustrating”.
Unlike AIM-listed rival CentralNic, which has confirmed it is in reverse-takeover talks with KeyDrive, MMX has not revealed which potential buyer(s) it has been talking to.
MMX, also listed on AIM, has a market cap of £69.3 million ($94.3 million) today.
In January, it informally reported that its 2017 billings are expected to be around the $15.6 million mark, allowing the company to hit operating profitability for the first time.
The company runs 25 new gTLDs solo and five more in partnerships with other companies, but by far and a way the best volume performer is .vip, which accounts for well over half of its registrations largely due to its resonance in China.
MMX has obviously been far more focused on structuring a deal than they have been in effectively promoting their (great) dot-VIP extension. It’s a shame that they’ve left that task up to those in the secondary market.
.vip is being propped up with huge one day spikes to mask the steady overall decline, it is a company going nowhere so no wonder the plan is to try and get bought out. Have pretty big doubts that will happen unless the buyout price is low.y
And now we know it was actually them acquiring another registry operator, not the other way round. Interesting times!