Business
Acquisition of TPP Wholesale
Acquisition of TPP Wholesale.
About this update from Team Internet Group Plc
[{"type":"text","content":"\n \nRNS Number : 4840Z CentralNic Group PLC 20 May 2019 \n\nThe information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain. \n \n20 May 2019\n\n\n\n\n\n\n\n \nCentralNic Group plc\n(\"CentralNic\" or \"the Company\" or \"the Group\")\n \nAcquisition of TPP Wholesale\n \nCentralNic Group plc to acquire the leading Australian and New Zealand domain name and hosting reseller business TPP Wholesale for $24m AUD\n \nCentralNic Group PLC (AIM: CNIC), which sells subscription internet services to businesses globally, announces it has entered into a conditional agreement to acquire the Sydney-based business TPP Wholesale, the leading platform for resellers of domain names and hosting in Australasia for a headline consideration of $24m AUD (the 'Acquisition'). \n \nAbout TPP Wholesale\n \nTTP Wholesale is a carve out of certain trade and assets from ARQ Group Limited (ASX: ARQ) (\"ARQ\"), a company listed on the Australian Securities Exchange. The acquisition is the next step in CentralNic's strategy as a rapidly growing global consolidator in the recurring revenue domain name industry. \n \nTPP Wholesale is Australasia's leading domain name and hosting reseller platform business with around 14,000 reseller customers and 840,000 domains under management, including 19% of all .com.au registrations. \n \nTPP Wholesale will be an extension in Australia and New Zealand of CentralNic's largest business unit, which supplies domain names to resellers globally including most of the world's top ten domain name retailers by volume. CentralNic will provide TPP Wholesale customers with continuity of service, while also upgrading the service with new products.\n \nThe TPP Wholesale acquisition will also mark the first steps in CentralNic becoming a reseller of Amazon Web Services and Microsoft Office 365.\n \nInformation on the Acquisition\n \nThe total consideration is $24m AUD including taxes, to be paid in cash and by assuming certain liabilities of c. $1.6m AUD from the ARQ at completion. ARQ has not historically ...