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Rightside, Donuts Merger Gets the Green Light from ICANN

New top-level domain registry operators, Rightside Group, Ltd. (NASDAQ:NAME) and Donuts Inc. have received ICANN's express consent on their merger plans announced last month. As part of the announced agreement, Donuts will acquire Rightside for $10.60 per share in an all-cash tender offer, for an aggregate purchase price of approximately $213MM. The Merger Agreement was unanimously approved by Rightside's Board of Directors following a comprehensive review of strategic and financial alternatives that Rightside announced in the first quarter of 2017. Analyzing the acquisition, Andrew Allemann from Domain Name Wire writes: "Rightside had to sell. There was no question that Rightside was going to be acquired or go private in some way. After selling eNom to Tucows for $83.5 million earlier this year, the company was just too small to remain public. It also had lots of pressure to perform… It had to sell eNom because it was about to lose its biggest customer."

Related topics: Domain Names, ICANN, Registry Services, Top-Level Domains

 
   

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