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07 Aug 2019 | 07:32

CentralNic Group acquires Hexonet Group and Ideegeo Group

CentralNic Group said it had completed the acquisitions of Hexonet Group and Ideegeo Group.

The company paid €7m – with a further deferred payment €3.0 million due on the first anniversary of completion payable in cash or shares – to Hexonet, which sells domain name subscriptions directly and via more than a thousand resellers in over 110 countries, managing over 3.8 million domains on its proprietary software platforms.

The company acquired Ideegeo Group for $5.2m NZD, of which $520,000 NZD constituted a deferred payment, held in escrow until May 2021.

For the financial year ended 31 March 2019, Ideegeo's revenues were c.$6.2m NZD with an earnings (EBITDA) of $0.9m NZD.

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