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Completion of the acquisition of TPP Wholesale

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RNS Number : 5186H
CentralNic Group PLC
01 August 2019
 

 

1 August 2019

CentralNic Group plc

("CentralNic" or the "Company" or the "Group")

 

Completion of the acquisition of TPP Wholesale

 

CentralNic Group PLC (AIM: CNIC), the global internet platform that derives revenue from the subscription sales of internet domain names, is pleased to announce that it has now received the funds from its recent bond raise and, further to the announcement released on 20 May 2019, the acquisition ("the Acquisition") of TPP Wholesale Group is now complete. The acquisition of Hexonet Group, announced on 1 July 2019, is also expected to complete on 5 August 2019.

 

TPP Wholesale is the leading platform for resellers of domain names and hosting in Australasia, with around 14,000 reseller customers and 840,000 domains under management. The acquisition is the next step in CentralNic's strategy of consolidating the recurring revenue global domain name industry.

 

Headline consideration for the acquisition was $24m AUD. TPP Wholesale's stand-alone revenues and Adjusted EBITDA to be acquired for the financial year ended 31 December 2018 were determined to be $17.0m AUD and $3.9m AUD respectively on an unaudited basis. 

 

Ben Crawford, CEO of CentralNic, said: "I am delighted to report that, having completed the acquisition of TPP Wholesale, CentralNic is now the leading supplier to domain name and hosting resellers in Australasia. The acquisition is also earnings enhancing, provides numerous cost synergies, and enables us to participate in the proposed launch of the new .au domain extension. We look forward to providing further updates in future."

 

For further information:  

CentralNic Group Plc

Ben Crawford, Chief Executive Officer

Don Baladasan, Group Managing Director

Michael Riedl, Chief Financial Officer

 

 +44 (0) 203 388 0600

Zeus Capital Limited (NOMAD and Joint Broker)

Nick Cowles / Jamie Peel (Corporate Finance)

John Goold / Rupert Woolfenden 

(Institutional Sales)

 

+44 (0) 161 831 1512

+44 (0) 203 829 5000

Stifel (Joint Broker)

Fred Walsh / Neil Shah / Alex Price

 

+44 (0)20 7710 7600

 

 

Newgate Communications (for Media)

Bob Huxford

Tom Carnegie

Robin Tozer

+44 (0) 203 757 6880

[email protected]

 

 

About CentralNic Group plc 

CentralNic (AIM: CNIC) is a London-based AIM-listed company which drives the growth of the global digital economy by developing and managing software platforms allowing businesses globally to buy subscriptions to domain names, used for their own websites and email, as well as for protecting their brands online.  Its core growth strategy is identifying and acquiring cash-generative businesses in its industry with annuity revenue streams and exposure to growth markets and migrating them onto the CentralNic software and operating platforms. 

 

CentralNic operates globally with customers in almost every country in the world.  It earns recurring revenues from the worldwide sales of internet domain names and other services on an annual subscription basis. 

 

For more information please visit: www.centralnicgroup.com 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Price: 47.5

Market: LSE
Market Cap: £86.35 m
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