The world’s largest domain registrar, GoDaddy Group Inc. has reportedly been sold on the mammoth price $2.25 billion. The deal valued at $2.25 billion was reportedly taken place on Friday. The announcement of the deal by the company was done later on the same day.
By the time, the announcement of the deal was made the news spread like a wildfire among the business community in the USA and the whole world and ofcourse all over the web.
GoDaddy was bought by the three major private equity firms – KKR & Co., Silver Lake Partners and Technology Crossover Ventures. The companies also agreed to take on the GoDaddy’s debt (which is roughly half of the value of the deal).
The founder and CEO of GoDaddy Bob Parsons made the higher growth predictions of the company under the new ownership.
Bob Parson says in an interview to Los Angeles Times, “What these guys see is a company with a lot more potential internationally and more potential to make partnerships and acquisitions. They’ll help us finance and they’ll help us recruit talent.”
In past three years, GoDaddy emerged as the biggest web hosting company in the world. It got much higher sales and the rise by 25% to $947 million in year 2009 to 2010. GoDaddy projected that the growth would continue in year 2011 making the quotes of $1.1 billion for the year.