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 | U.S. welcomes Armenia, Azerbaijan’s border delimitation announcement Blinken said it is an important step towards concluding a durable and dignified peace agreement. Residents Of border villages protest as Armenia, Azerbaijan agree on delimitation Residents of several Armenian communities in the northeastern Tavush province began protests late on Friday. Up to 10% cashback from GetTransfer with IDBank cards IDBank clients who make their booking on GetTransfer will receive an exclusive cashback. European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 |