Directi Acquired for $ 110 mn by Endurance International


Directi Acquired for $ 110 mn by Endurance International

Nasdaq ShutterstockEndurance International, the company that owns HostGator and is has filed for a $400 mn Nasdaq IPO and will spend $110 mn to buy Directi, the Indian domain name registrar, for $110 mn, according to a new report.

Endurance will also finance Directi’s new generic top level domain auctions up to $62 mn. Endurance International Group Holdings said in an SEC filing:

In August 2013, we entered into a master share purchase agreement to acquire all of the outstanding capital stock of Directi from Directi Holdings, the seller, for an amount we estimate will be between $100 million and $110 million in cash or, at the election of the seller, a combination of cash and shares of our common stock, subject to the satisfaction or waiver of specified customary closing conditions and the achievement of specified financial targets.

The company plans to close the acquisition during the fourth quarter of 2013. “We paid $5 million to Directi Holdings, which will be credited against the purchase price and will be refunded if the acquisition does not close for specified reasons,” said Endurance International. The development was first reported by  Domaincite.

The statement also said that Endurance International has entered into agreements with entities affiliated to Directi Holdings to participate in the auction of new top level domain extensions. “We may be obligated to make aggregate cash payments of up to a maximum of approximately $62 million, subject to specified terms, conditions and operational contingencies,” said the statement.

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