Oversee.net have announced they have received a US$150 million investment from the private equity firm Oak Hill Capital. While specific details of the investment have not been disclosed, Oversee have said the funds will be used to augment organic growth and acquire technologies that will enhance its suite of services in the online marketing and domain name industries.
“Oak Hill understands that the online marketing, traffic and domain name sectors are rapidly growing, and they share our vision for establishing Oversee as a leading, trusted partner for domain owners and advertisers,” said Oversee.net co-founder and CEO Lawrence Ng. “Their commitment and support will add fuel for organic growth and will help us capitalize on opportunities to broaden our capabilities.”
Robert Morse, a Partner at Oak Hill Capital Partners, added, “Oversee is an innovative company which we believe is well positioned for growth over the coming years. We’re looking forward to working with Lawrence and his talented team as they play a leadership role in this dynamic industry.”
The transaction is expected to close by the end of January 2008.
And no doubt Oak Hill Capital, being a private equity firm think they will make a killing out of the investment!
The news release announcing the investment is available from www.oversee.net/news_details.php?id=353