Siris Capital takes Web.com private.
It’s official: Web.com is now a private company.
Shareholders approved an acquisition by Siris Capital Group yesterday. They got a bit of a bump from when the deal was originally announced at $25.00 per share; all shareholders received $28.00 per share. The deal was about $2 billion including debt.
Web.com owns Network Solutions and Register.com, two high-priced registrars. It also owns SnapNames and a 50% stake in rival expired domain service NameJet. Web.com owns a portfolio of domain names it has captured from the expiry stream as well.
The company has struggled to find its footing of late and was facing investor pressure.
Web.com traded under the symbol WEB on the NASDAQ.