Business
Completion of the acquisition of TPP Wholesale
Completion of the acquisition of TPP Wholesale.
About this update from Team Internet Group Plc
[{"type":"text","content":"\n \nRNS Number : 5186H CentralNic Group PLC 01 August 2019 \n\n \n1 August 2019\nCentralNic Group plc\n(\"CentralNic\" or the \"Company\" or the \"Group\")\n \nCompletion of the acquisition of TPP Wholesale\n \nCentralNic Group PLC (AIM: CNIC), the global internet platform that derives revenue from the subscription sales of internet domain names, is pleased to announce that it has now received the funds from its recent bond raise and, further to the announcement released on 20 May 2019, the acquisition (\"the Acquisition\") of TPP Wholesale Group is now complete. The acquisition of Hexonet Group, announced on 1 July 2019, is also expected to complete on 5 August 2019.\n \nTPP Wholesale is the leading platform for resellers of domain names and hosting in Australasia, with around 14,000 reseller customers and 840,000 domains under management. The acquisition is the next step in CentralNic's strategy of consolidating the recurring revenue global domain name industry. \n \nHeadline consideration for the acquisition was $24m AUD. TPP Wholesale's stand-alone revenues and Adjusted EBITDA to be acquired for the financial year ended 31 December 2018 were determined to be $17.0m AUD and $3.9m AUD respectively on an unaudited basis. \n \nBen Crawford, CEO of CentralNic, said: \"I am delighted to report that, having completed the acquisition of TPP Wholesale, CentralNic is now the leading supplier to domain name and hosting resellers in Australasia. The acquisition is also earnings enhancing, provides numerous cost synergies, and enables us to participate in the proposed launch of the new .au domain extension. We look forward to providing further updates in future.\"\n \nFor further information: \n\n\n\nCentralNic Group Plc\nBen Crawford, Chief Executive Officer\nDon Baladasan, Group Managing Director\nMichael Riedl, Chief Financial Officer\n \n\n\n +44 (0) 203 388 0600\n\n\n\n\nZeus Capital Limited (NOMAD and Joint Broker)\nNick Cowles / Jamie Peel (Corporate Finance)\nJohn Goold / Rupert Woolfenden \n(Institutional Sales)\n\n\n \n+44 (0) 161 831 1512\n+44 (0) 203 829 5000\n\n\n\n\nStifel (Joint Broker)\nFred Walsh / Neil Shah / Alex Price\n \n\n\n+44 (0)20 7710 7600\n \n \n\n\n\n\nNewgate Communications (for Media)\nBob Huxford\nTom Carnegie\nRobin To...