22nd Sep 2014 08:40
LONDON (Alliance News) - CentralNic Group PLC said Monday that it has invested USD1.6 million in Accent Media Ltd, the the successful applicant for the .tickets new top-level domain.
The internet platform business which generates its revenue from the global sale of domain names said that the investment equates to an equity stake in Accent Media of approximately 12%.
The investment comes as part of CentralNic's ongoing strategy of investing in top-level domain applicants, as well as acting as a business partner to their operators, as outlined at the time of the company's listing on AIM in September last year.
CentralNic's invested funds were used by Accent Media to acquire the .tickets domain in a private auction, winning a contention set which included four other applicants, said the company. In addition to this, CentralNic has entered into a contract with Accent Media to be both the exclusive wholesaler, also known as registry service provider, and one of the retail partners for the .tickets domain.
"The .tickets Top-Level Domain will be a compelling new tool to assist consumers in easily identifying legitimate and trusted ticket sales sites, as well as empowering venues, entertainers and sports organisations to improve their use of the internet by enabling fans to purchase tickets safely and securely," said Chief Executive of CentralNic Ben Crawford.
Shares in the company were Monday morning trading 0.83% higher at 61.00 pence per share.
By Alice Attwood; [email protected]; @AliceAtAlliance
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