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No more acquisitions for Nominet
Kevin Murphy,
May 28, 2021, 13:29:06 (UTC),
Domain Registries
Nominet isn’t in the market for buying up other companies any more.
The .uk registry said today that its board of directors has dissolved its mergers and acquisitions committee, which means no more deals in the rapidly consolidating domain name space for the foreseeable future.
The company said the board has “agreed to a proposal to dissolve the M&A Committee in recognition that this type of activity is unlikely to form a central component in the corporate strategy moving forward.”
It’s also dissolved its Cyber Advisory Panel, which looked for potential business opportunities in the internet security space.
The moves come a couple of months after member pressure forced the resignation or sacking of five members of Nominet’s board, including its CEO, in part because of a perception that diversification was harming the core .uk domains business.
But a spokesperson confirmed that the M&A ban is “across the board”, including core and non-core sectors. The decision may be revisited in future, but there are no plans to do so right now.
The PublicBenefit.uk campaign that forced the change of strategic direction had also called for lower .uk prices, more profit sent to public benefit causes, and for greater member engagement.
At its May board meeting, Nominet also agreed to an as-yet-unspecified pricing promotion, an emphasis on public benefit contributions in its budget, and the creation of a UK Registry Advisory Council.
A call for applications for seats on this Council will go out next week.
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