GoDaddy agreed to acquire Host Europe Group (HEG) for €1.69 billion (US$1.79 billion), including €605 million paid to the selling shareholders and €1.08 billion in assumed net debt.
As the largest privately-owned web services provider in Europe, HEG serves small businesses and web experts, and has built a thriving business with more than 1.7 million customers. It holds strong positions in the UK and Germany with brands such as 123Reg, Domain Factory, Heart Internet and Host Europe. HEG has offices in Germany, the U.K., France, Spain, Romania, and Bulgaria.
HEG is currently owned by international private equity firm Cinven, which acquired the business in August 2013. GoDaddy intends to integrate the majority of HEG's business while exploring strategic alternatives for HEG's PlusServer managed hosting business, including a possible sale.
"GoDaddy has successfully expanded its international business to 56 global markets over the past four years," said GoDaddy CEO Blake Irving. "HEG has built an impressive business that generates strong top-line growth, high margins, and industry-leading customer satisfaction. By joining forces with HEG, we accelerate our expansion into Europe with the delivery of a broader range of cloud-based products, built on a single global technology platform, and supported by unparalleled customer care to help small businesses and web designers succeed online."
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