Tucows Inc. To Acquire eNom from Rightside
-- Combined Entity Will Be The Second Largest Domain Registrar In The World --
TORONTO, Jan. 20, 2017 -- Tucows Inc. (NASDAQ:TCX) (TSX:TC), a provider of network access, domain names and other Internet services, announced that it has signed a definitive agreement to acquire wholesale domain name registrar eNom from Rightside Group, Ltd. (NASDAQ:NAME). The transaction is expected to close later today.
Tucows will pay $83.5 million and the transaction is expected to be immediately accretive to earnings. The acquisition will be funded through an amendment increasing Tucows’ existing credit facility to a total of $140 million.
The acquisition of eNom will add 14.5 million domains under management and 28,000 active resellers. That will give Tucows a total network of over 40,000 resellers globally and 29 million domains under management, making it the second largest domain registrar in the world.
- Published: 20 January 2017
- Written by Editor