Private equity firm Siris Capital Group has acquired internet services provider
Web.com Group, Inc. (Web.com). Web.com, which has headquarters in Jacksonville, Florida, United States, was established in 1997. The company caters to small businesses offering a “full range of Internet services” through a variety of brands including Network Solutions, Register.com, and Solid Cactus. Through its brands the company caters to its customers’ full range of requirements, from domain registration, to hosting and website design, and even Search Engine Optimization (SEO). The cost of Siris Capital Group’s acquisition is reported to be in the $2 billion region.
Siris Capital Group, which has headquarters in New York, United States, was established in 2011. The company focuses on making investments in “data, telecommunications, technology and technology-enabled business service companies”. News of the acquisition comes after a period of speculation regarding a potential sale of Web.com.
“This transaction will provide shareholders with immediate and substantial cash value, while also providing us with a partner that shares in our commitment to customers and employees and can add strategic and operational value,” explained Web.com’s Chairman, CEO and President, David L. Brown. “Based on our extensive engagement with Siris over the past two months and our prior discussions with them, we are confident that Siris’ support will enable Web.com to execute on its strategy and next phase of growth.”
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