November 8, 2008 – (HOSTSEARCH.COM) – Internet services company Tucows (http://www.tucows.com/) has announced it will sell its stake in registry services provider Afilias (http://www.afilias.info/) for $7.4 million. The news spurred a 25% increase in Tucows’ stock. “This sale is another step in our stated goal to divest non-core assets in order to unlock hidden value for shareholders,” Elliot Noss, Tucows CEO was reported as saying. The company will use revenue from the sale repurchase shares.
Immediately (one day) after its announcement it would sell its sell its Afilias stake, Tucows announced the launch of Butterscotch.com - a “new online video network that offers educational and user-friendly instructional shows designed to demystify technology for the average technology consumer.” Based on its intention to “divest non-core assets”, the move has confused analysts, some of whom believe Butterscotch may have been a component in a recent purchase of NetIdentity (http://www.netidentity.com/).
Tucows is an internet services company that provides back office solutions and wholesale internet services to a global network of more than 6,000 web hosting companies, internet service providers (ISPs) and other service providers worldwide. The company provides software on a "freeware" or "shareware" basis, and currently host more than 40,000 software titles through its international network of partner sites.
