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CentralNic to receive 680,000 domain names

The company said ICANN, a non-profit responsible for maintaining domain name databases, had selected the firm to receive the domains from a registrar that was no longer accredited

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The new domains would be transferred to three of CentralNic's subsidiaries and provide revenues when they are renewed by their users

CentralNic Group PLC (LON:CNIC) said it will receive around 680,000 domain names as part of a bulk transfer from a former registrar.

The company, which provides internet domain registry services, said the Internet Corporation for Assigned Names and Numbers (ICANN), a non-profit responsible for maintaining domain name databases, had selected the firm to receive 679,840 domain names from a registrar that was no longer accredited.

READ: CentralNic reports “solid” 2018 performance as KeyDrive integration continues

CentralNic said the new domains would be transferred to three of its subsidiaries and provide revenues when they are renewed by the end users.

The group added that the transfer would be at no cost with any additional servicing expenditure expected to be “minimal”.

“This was a competitive process and our selection is a huge endorsement of the quality of our scalable platform, our exemplary track record and excellent reputation in the industry. We hope to be able to announce further successes of this kind in future", said Ben Crawford, chief executive of CentralNic.

In early trading Friday, CentralNic shares were down 2.2% at 45p.

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Quick facts: Centralnic Group PLC

Price: 71.66 GBX

LSE:CNIC
Market: LSE
Market Cap: £133.08 m
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