There were lots of twists and turns over the past year as Rightside sold itself.
Domain name company Rightside (NASDAQ:NAME) announced last month that it would be acquired by Donuts for $213 million.
This ended a long and winding road for the company as it began exploring strategic options last year. It has Donuts to thank for pushing this process forward.
Donuts started it by offering to purchase Rightside’s registry business for $70 million last year. The deal came to light in June 2016 after Rightside rebuffed Donuts offer.
According to an SEC filing, Rightside asked its bankers Barclays to look for potential buyers. Two buyers came to the table with indications of interest.
One was Party A, described as a “non-U.S. domain registrar and internet services company.” On September 12, 2016, it submitted a non-binding indication of interest to buy Enom fo $150 million.
The other was Party B, a “leading internet domain registrar and web hosting company”. On September 14 it submitted an indication of interest to buy Rightside for $11.75 per share. Five days later, it upped its offer to $13.50 but stated that it didn’t want to acquire eNom and the deal was conditioned upon a sale of eNom at the same time it acquired Rightside. Click here to continue reading…