On Day CentralNic Completes Hexonet Deal, Announces Another Registrar Acquisition
Posted in: Domain Names at 08/08/2019 21:43
On the day when CentralNic announced it had completed its acquisition of the German/Canadian Hexonet Group, it announced it was acquiring another registrar, this time the privately-owned New Zealand Ideegeo Group which operates the retail registrar iwantmyname.
CentralNic announced the acquisition of Ideego Wednesday, which has 180,000 domains under management, for NZ$5.2 million (c.US$3.4m) as both strategic and earnings accretive. In their announcement, CentralNic note how Ideegeo is a leading innovator in the application of User Centred Design. CentralNic intends to deploy the design solutions developed by Ideegeo across its retail websites, noting that high usability is particularly ideal for customers in emerging economies, which is a key target market for CentralNic. The staff of Ideegeo will be retained and one of Ideegeo’s founders will be appointed as Customer Engagement Product Planner and Manager across its retail brands.
Ideegeo is also one of the largest customers of Hexonet, which CentralNic recently acquired and completed the acquisition on the same day as the Ideego announcement. CentralNic expects the acquisition to deliver operational cost savings through vertical integration as well as permanently locking in an important revenue stream for CentralNic. And as Ideegeo currently only sells domain names, CentralNic believes that there are cross selling opportunities to provide Ideegeo’s 80,000 customers with CentralNic’s extended product offering, including hosting, SSL certificates and other additional subscription products and services.
“The acquisition of Ideegeo adds more to CentralNic’s retail group than additional earnings, customers and synergies,” said Ben Crawford, CEO of CentralNic. “Its leading User Interface and Customer Engagement solutions, and the team that created them, represent a further differentiator for CentralNic’s global retail business from the competition to support our organic growth.”
The addition of Hexonet to the CentralNic Group adds another 3.8 million domain names registered directly and via more than a thousand resellers in over 110 countries and increased CentralNic’s domains under management by c.28% for around €10.0 million.