Aug, 2010 : Web.com Announces Completion of Register.com Acquisition

📅 August 2, 2010 - Acquisition to create one of the largest online marketing and web services companies serving small businesses.

Web.com Group, Inc., a web services provider, today announced that it has completed the previously-announced acquisition of Register.com, an ICANN accredited domain registrar, on July 30, 2010. The company says that in accordance with the terms of the acquisition agreement as announced on June 17, 2010, it acquired privately-held Register.com for $135 million, which was comprised of $25 million in cash and $110 million in long term debt. It adds that the company will discuss the Register.com acquisition in more detail, including financing terms and the combined company's outlook, on its upcoming second quarter 2010 earnings call and webcast, scheduled for August 3, 2010.

David Brown, President and CEO of Web.com, stated, "The acquisition of Register.com is a transformative event for Web.com and creates one of the largest online marketing and web services companies serving small businesses. We believe the potential to realize over $10 million in annualized cost savings and more than double the company's adjusted EBITDA, coupled with the rapid pay down of debt associated with the acquisition, will enable Web.com to deliver a significant increase in shareholder value over the next 12 to 18 months."

Brown added, "In addition to the strong cash flow that we expect as a result of the Register.com acquisition, we are equally excited about our combined organization's increased scale from a revenue and resources perspective. Our combined company has a non-GAAP revenue run rate of approximately $180 million and we immediately have far greater capacity to invest in sales and marketing programs targeted at restoring and accelerating revenue growth. In addition, we expect to continue ramping investments in these areas during 2011 as we increasingly realize cost synergies related to streamlining our combined organization. With over 1 million subscribers, an expanded value proposition and broad cross-sell and up-sell opportunities, we are very optimistic about our combined company's long-term potential."

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