📅 - Australian-based domain registrar Melbourne IT (melbourneit.com.au) announced on Monday that it has entered into an agreement to buy Web hosting provider WebCentral (webcentral.com.au), which would bring together two of Australia's biggest domain and hosting companies.
Melbourne IT has been rising steadily on the Australian Stock Exchange over the last six months, while the WebCentral stock price has experienced a significant decline. Melbourne IT says this could be a strong motivating factor for WebCentral to go through with the deal.
"The proposed acquisition will bring together two of Australia's leading Web services businesses, generating significant benefits for customers, shareholders and staff of both companies," says Theo Hnarakis, CEO and managing director of Melbourne IT.
The merged company would have approximately 400 employees worldwide and combined annual sales of over $130 million. WebCentral shareholders will vote about the acquisition in a meeting that will likely be held this August.
Reads: 2439 | Category: General | Source: TheWHIR : Web Host Industry Reviews URL source: http://www.thewhir.com/marketwatch/052306_Australian_Web_Hosts_Talk_Merger.cfm
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