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NameSilo says it’s growing too fast to be acquired

Kevin Murphy, August 31, 2021, Domain Registrars

NameSilo Technologies has called off talks to sell its registrar, also called NameSilo, saying the company is growing too fast to exit right now.

The Canadian company grew its domains under management by 578,000 between April 2020 and April this year, when it stood at 3.9 million domains. It says it has since crossed 4.3 million.

The prospective deal, with Dutch acquisition vehicle WGH Holdings was announced last December.

But NameSilo’s CEO Paul Andreola said in a press release:

We believe that the value of Namesilo has grown significantly since the discussions with the prospective buyer began and feel that there is more value to be unlocked over the near to medium term for shareholders.

At the same time, the company reported revenue of $8.4 million for the second quarter, up $900,000 on the same period last year, with adjusted EBITDA of $435,344.

Bookings were up to $9.9 million from $7.6 million.

It was the company’s debt that first spurred acquisition talks. NameSilo says that debt has been reduced from $4.7 million to $3.85 million since March.