Web.com, which is a listed company, has announced that it is to be acquired by an affiliate of Siris Capital Group, LLC.
The deal is reported to be worth approximately $2 Billion USD. The company will have the ability to seek alternative offers:
Web.com may solicit alternative acquisition proposals from third parties during a “go-shop” period from the date of the agreement until August 5, 2018. There is no guarantee that this process will result in a superior proposal, and the agreement provides Siris with a customary right to match a superior proposal. Web.com does not intend to disclose developments with respect to the solicitation process unless and until the company determines such disclosure is appropriate.
In the registrar space web.com is probably best known under the names of two of its big brands Network Solutions and Register.com.
Full details of the deal here.
