Investment firm accumulates a small stake in Web.com competitor.
Siris Capital, the private equity company that owns Web.com, has opened a position in Endurance International Group (NASDAQ: EIGI).
The investment firm owned a 2.39% stake in Endurance as of June 29. At today’s closing price, that’s worth about $21 million.
Shares in EIGI have been on a roller coaster this year and represented a great investment if you got in at the bottom. Shares closed at just $1.49 on March 20 during the height of the Covid-19 stock market panic. They closed today at $6.25, a more than 4x return.
Web.com owns domain name registrars Network Solutions and Register.com. Endurance International Group is a rollup of web hosting and domain name companies, including BlueHost, BuyDomains, and Domain.com. It also owns email marketing company Constant Contact.