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Destra Sells Web Hosting Business for $20 Million |
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November 11, 2006 - (HOSTSEARCH.COM) - Destra Corporation (http://www.destra.com) has sold the web hosting aspect of its business to a new interactive marketing company called BlueFreeway, it was announced recently. According to the announcement the cost of the acquisition was $20 million - $18 million in cash and $2 million in shares. Destra has about 13,000 hosting customers
Destra CEO, Dominic Carosa suggested the company had sold its hosting business to focus on digital media sales, an area it has invested heavily in over the past 12 months, making a number of purchases including Brand New Media, Payless Entertainment and Quickflix.
"We've been heavily focused on digital music for the last 12-18 months," suggested Mr. Carosa. "We decided BlueFreeway was a better home for our hosting assets." Under the agreement, Destra will still be involved in the business and retain a seat on BlueFreeway board. "At the moment we're maintaining status quo; the name and management are the same for now," added Mr. Carosa. |
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