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Completion of the acquisition of Hexonet Group

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RNS Number : 1651I
CentralNic Group PLC
07 August 2019
 

 

7 August 2019

CentralNic Group plc

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

 

Completion of the acquisition of Hexonet Group

 

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, further to the announcement released on 1 July 2019, the acquisition ("the Acquisition") of Hexonet Group ("Hexonet") is now complete.

 

Hexonet, with operations in Canada and Germany, sells domain name subscriptions directly and via more than a thousand resellers in over 110 countries, managing over 3.8 million domains on its proprietary software platforms. The acquisition increases CentralNic's domains under management by c.28%.

 

Completion of the Acquisition follows CentralNic paying €7.0 million for all shares in Hexonet. The Company will further make a deferred payment of up to €3.0 million on the first anniversary of completion, payable in cash or CentralNic shares at prevailing market price, at the Company's discretion.

 

Ben Crawford, CEO of CentralNic, said: "This transaction marks another important step in CentralNic's strategy to rapidly consolidate the global recurring revenue domain name industry. Like CentralNic, Hexonet has a high level of recurring revenue and excellent customer retention. Its technically advanced global reseller platform and expert staff further boost our market share and competitiveness. 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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Market: LSE
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