US-based Endurance International, owner of Domain.com and HostGator, will spend up to $110 million in buying Mumbai-headquartered Directi, India’s largest domain registrar. Endurance plans to raise up to $400 million in a Nasdaq IPO and part of the funds will be spent on buying Directi. The acquisition depends on a number of targets related to the IPO and Directi’s revenue performance.
The acquisition would close in the fourth quarter this year. Endurance has also agreed to bankroll Directi’s new gTLD auctions to the tune of $62 million.Since December 2011, Endurance has been majority owned by Warburg Pincus and Goldman Sachs. Established in 1998, Directi has over 1000 employees and over 25 Internet Software Products for a global audience. It claims over 10,00,000 customers and over 50,000 channel partners.
Source: Press Release
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