Web.com Group to Acquire Webcentral Group
?JACKSONVILLE, Fla., July 13, 2020 (GLOBE NEWSWIRE) -- Web.com Group, a leading web technology company helping millions of customers around the globe thrive in a connected world, today announced that it has entered into an agreement to acquire Webcentral Group (ASX:WCG), a leading provider of digital services for small and medium Australian businesses. Today’s deal extends Web.com Group’s strategic move into the Australian, New Zealand, and Southeast Asian markets with its acquisition of Dreamscape Networks last year.
Through its Netregistry, Melbourne IT, and WME brands, Webcentral serves approximately 330,000 customers with domain names, web hosting and digital marketing services.
“The Webcentral acquisition further complements Web’s continued commitment to providing market-leading web presence solutions to customers across the globe,” said Sharon Rowlands, CEO and president, Web.com Group. “Now more than ever, companies need reliable online solutions and partners that deliver results to support ever-evolving business needs. Webcentral is a natural fit for our family of leading web technology brands and a proven long-standing partner to its customers.”
“Web.com Group and Webcentral share a common vision of providing technologies and digital growth solutions for small to medium enterprises. We partner with businesses to get online and unlock the potential of their digital footprint," said Andrew Reitzer, Chairman, Webcentral Group. "We're excited to join the Web.com Group family for the enhanced solutions for every step of their digital journey that the joint expertise will provide our customers.”
“Joining forces with Webcentral demonstrates our dedication to expanding in the region,” said Mark Evans, CEO of Dreamscape Networks. “Together, with the combined brnds and resources of Web.com Group, Dreamscape Networks and Webcentral Group, we’re bringing more robust and innovative online solutions and a comprehensive product portfolio to the Australian market, while continuing to provide Best-in-World service.”
“We look forward to welcoming Webcentral to the Web.com Group,” said Tyler Sipprelle, principal at Siris Capital and director at Web.com Group. “As a global, multi-brand web technology business, we believe Web.com Group has much to offer businesses seeking an online presence strategic partner to support their next stage of profitable growth.”
The transaction is expected to close in late 2020 subject to the satisfaction of shareholder and regulatory approvals and other customary closing conditions. Gilbert + Tobin are acting as legal adviser to Web.com Group. Macquarie Capital is acting as financial advisor and Herbert Smith Freehills is acting as legal advisor to Webcentral.
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