Another domain firm going private as Endurance announces $3 billion deal
Endurance International, owner of registrar brands including Domain.com, BigRock and BuyDomains, plans to go private in a $3 billion private equity deal.
The buyer is Clearlake Capital group, in what appears to be its first foray into the domain name market.
It has offered to pay $9.50 for each Endurance share, saying it’s a 79% premium on the closing price the day before the media first got a whiff of a deal being in the works back in September and a 64% premium on Friday’s close.
The deal is still subject to shareholder approval, but Endurance says institutional investors accounting for 36% of its shares have already promised to vote in favor.
Endurance yesterday also announced its third-quarter financial results. It reported net income down from $7.8 million to $6.7 million, on revenue that was up 3% at $278.4 million.
The company does not break out what portion of its revenue or profit comes from domains. Hosting and web marketing services are also a big part of its business.
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