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01 Aug 2019 | 09:55

CentralNic Group completes TPP Wholesale Group acquisition

CentralNic Group said it had completed the acquisition of TPP Wholesale Group. The company paid $24m AUD to acquire TPP after receiving funds from its recent bond raise. TPP Wholesale, a platform for resellers of domain names and hosting in Australasia, had around 14,000 reseller customers and 840,000 domains under management. The acquisition was the next step in CentralNic's strategy of consolidating the recurring revenue global domain name industry, the company said. TPP Wholesale's stand-alone revenues and adjusted earnings (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. The company also said that it expected the acquisition of Hexonet Group to be completed on 5 August 2019.

At 9:55am: (LON:CNIC) Centralnic Group Plc share price was 0p at 59p

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