GoDaddy to buy Host Europe to boost web hosting businessDecember 6, 2016 - 17:43 AMT PanARMENIAN.Net - U.S.-based website domain name provider GoDaddy Inc (GDDY.N) said on Tuesday, December 6 it would buy peer Host Europe Group (HEG) for 1.69 billion euros ($1.82 billion), including debt, as it looks to expand beyond the initial set-up of websites, according to Reuters. GoDaddy has branched into the more profitable business of hosting websites for small businesses and consumers and the HEG deal will help it accelerate this shift as well as broaden its customer base in Europe. HEG, whose customer base is similar to GoDaddy's, is one of Europe's largest independent web hosting firms, and operates brands such as 123Reg, Domain Factory, Heart Internet and Host Europe. HEG is currently owned by European private equity firm Cinven Ltd [CINV.UL], which acquired the business in August 2013 for 438 million pounds. GoDaddy also said it would explore options for HEG's PlusServer managed hosting business, including a possible sale. GoDaddy, well-known in the United States for its sometimes outrageous TV marketing campaigns, trumped bids from German Internet service provider United Internet AG (UTDI.DE) and Deutsche Telekom AG (DTEGn.DE) for HEG. Reuters had reported last month that GoDaddy was in exclusive talks to buy the company. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Armenian, Azerbaijani heads of parliament meet in Switzerland President of the Armenian parliament Alen Simonyan met with the Speaker of the Azerbaijani Milli Majlis Sahiba Gafarova. Border residents overnight on highway to protest Armenia’s Residents of Kirants continue to express outrage over the government’s decision to cede land to Azerbaijan. Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan. |