Oct 24, 2008 : Look Sells Web Host to Bluegenesis

📅 October 24, 2008 - Canadian ISP and digital TV distributor Look Communications (http://www.look.ca/en/home.html) announced on Friday it has sold its web hosting business, EasyHosting, (easyhosting.com ) to Web development tools provider Bluegenesis (bluegenesis.com ) for $3.8 million.

According to Look, the sale agreement includes a 40-month marketing and licence arrangement where Look and Bluegenesis will jointly promote the EasyHosting brand and share in its revenue. The deal is subject to potential post-closing adjustments.

"We are very pleased with the agreement reached with Bluegenesis and we look forward to working with them to grow the web hosting and domain businesses," says Gerald McGoey, CEO of Look.

The telecommunications provider lost $2 million in its latest reported quarter on revenue of $4.9 million, which is down from $6 million a year ago.

Look provides Web hosting, domain registration, high-speed and dial-up Internet access, Web applications, digital TV, webmail, parental filters and virus scanning. The company has offices in Montreal, Quebec and Milton, Ontario.

Bluegenesis provides web hosting, email, domain name registration and e-commerce hosting solutions for the SME and reseller hosting market. The company has offices in Fort Lauderdale, Florida, Mississauga, Ontario and Miramichi, New Brunswick.

In other acquisition news, Landis Holdings announced earlier this week it acquired Web hosting provider Hosting Zoom, which also includes its divisions, Reseller Zoom and modVPS.

Reads: 2674 | Category: General | Source: TheWHIR : Web Host Industry Reviews
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Company: Easy Hosting

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