20th Jan 2015 07:59
LONDON (Alliance News) - NCC Group PLC said it has acquired a group of European domain services businesses for up to GBP14.9 million in cash.
The "information assurance" company said it has bought Belgium- and Luxembourg-based Open Registry Group, a group of domain service companies providing back-end registry operations to brand customers, registrar and trademark validation services. It said the acquisition will increase its presence in mainland Europe as well as the domain services market.
The Open Registry Group comprises of Open Registry SA, Clearinghouse for Intellectual Property SA and Nexperteam CVBA. It generated revenue of EUR3.7 million in 2014, with earnings before interest, taxes, depreciation and amortisation of EUR15,000.
NCC Group said it will initially pay GBP7.9 million for the acquisition, followed by two further payments of up to GBP7.0 million in total over the next three years, depending on performance related targets.
It said its expects the acquisition to be earnings neutral initially, before becoming earnings enhancing in the second year.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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