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CentralNic says Zeropark and Voluum acquisitions to complete by end-October

The internet domain name specialist said the acquisition conditions have now been satisfied and will become effective on October 31

Centralnic Group PLC - CentralNic updates on acquisition of Zeropark and Voluum

CentralNic Group PLC (LON:CNIC) has issued an update on its acquisition of Zeropark and Voluum, collectively known as Codewise, two companies that provide services to domain name owners so that they can generate recurring income from the monetisation of traffic to their websites.

The internet domain name specialist said the acquisition conditions have been satisfied or waived and substituted with adequate or better completion deliverables, and as such it is now unconditional and shall become effective on October 31, 2020.

READ: CentralNic expands monetisation segment with Codewise acquisition

The acquisition will be funded by £30mln raised in a placing of 40mln new shares previously announced on September 11, with the shares from the placing to be admitted on the morning of September 30.

"The swift completion of the acquisition conditions augurs well for the future collaboration with the enlarged team. We look forward to formally completing so that we can commence executing our integration strategy and begin to offer Codewise's products and services to our new and existing customers", CentralNic chief executive Ben Crawford said in a statement.

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Price: 92.4 GBX

LSE:CNIC
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Market Cap: £215.97 m
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CentralNic Group hails Codewise acquisition as 'significant transaction'

CentralNic Group PLC (LON:CNIC) Ben Crawford talks to Proactive London about the acquisition of Zeropark and Voluum, collectively known as Codewise. The internet domain name specialist said the total consideration for the purchase is US$36m and is expected to be more than 20% earnings for the...

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