28th Sep 2021 12:19
CentralNic Group PLC - London-based domain name registry and registrar services firm - Acquires publishing network of websites for USD6.5 million in cash from White & Case Ltd.
Says deal will be immediately earnings accretive. Expects about USD1.0 million additional revenue from new sites.
"The acquisition is part of a larger vertical integration strategy, providing the group's Online Marketing segment with more proprietary and exclusive traffic to monetise," company says.
Chief Executive Ben Crawford adds: "Exclusive access to proprietary website traffic is a pillar of our Online Marketing segment's sustainable competitive advantage. This acquisition will give us more exclusive website traffic and will augment margins for our fast-growing Online Marketing business."
Deal expected to complete on October 1.
Current stock price: 114.13 pence, up 2.8% on Tuesday
Year-to-date change: up 21%
By Paul McGowan; [email protected]
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