SCOTTSDALE, Ariz., July 18, 2017 /PRNewswire/ -- GoDaddy Inc.
(NYSE: GDDY), the world's largest cloud platform dedicated to
small, independent ventures, today announced it has signed a
definitive agreement for the sale of the PlusServer business to
funds advised by BC Partners, for an enterprise value of €397
million ($456 million USD). As part
of the transaction, PlusServer will assume liabilities of €23
million and retain existing cash on the balance sheet of €12
million. Subject to regulatory approval, the deal is expected to
close by the end of August.
The sale is consistent with the company's stated intent to
explore strategic alternatives for the PlusServer business, which
GoDaddy acquired as part of the Host Europe Group (HEG)
acquisition. PlusServer has been treated as an asset for sale since
the HEG acquisition closed in April 2017.
GoDaddy intends to repay its €500 million bridge loan with the
proceeds from the PlusServer sale and cash on hand.
Oakley Advisory acted as financial advisor to GoDaddy on the
transaction. Heuking Kühn Lüer Wojtek were legal advisors.
OC&C, Deloitte and Ernst & Young addressed commercial,
financial and tax matters, respectively.
Forward-Looking Statements:
This press release contains forward-looking statements which are
subject to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based on
information and estimates available to us at the time of this press
release and are not guarantees of future performance.
Statements which may be considered forward-looking within the
meaning of the U.S. federal securities laws include statements
regarding the timing of the completion of the sale of GoDaddy's
PlusServer business and GoDaddy's plans for repayment of the bridge
loan. These statements are subject to known and unknown
risks, uncertainties and other factors that may cause our actual
results, performance or achievements to differ materially from
results expressed or implied in this press release. Such risk
factors include those related to obtaining the required regulatory
approval for the PlusServer transaction and the satisfaction of
other closing conditions. Actual results may differ
materially from those contained in the forward-looking statements
in this press release.
Additional risks and uncertainties that could affect GoDaddy's
financial results are included in the other filings we make with
the SEC from time to time, including the risks described under the
captions "Risk Factors" and "Management's Discussion and Analysis
of Financial Condition and Results of Operations," in the Company's
Annual Report on Form 10-K for the year ended December 31, 2016 and the risk factors described
the Company's Current Report on Form 8-K filed May 3, 2017, which are available on the Company's
website at https://investors.godaddy.net and on the SEC's
website at www.sec.gov. All forward-looking statements in
this press release are based on information available to the
Company as of the date hereof. GoDaddy does not assume any
obligation to update the forward-looking statements provided to
reflect events that occur or circumstances that exist after the
date on which they were made.
About GoDaddy
GoDaddy powers the world's largest
cloud platform dedicated to small, independent ventures. With
nearly 17 million customers worldwide and over 71 million domain
names under management, GoDaddy is the place people come to name
their idea, build a professional website, attract customers and
manage their work. Our mission is to give our customers the tools,
insights and the people to transform their ideas and personal
initiative into success. To learn more about the company, visit
www.GoDaddy.com.
© 2017 GoDaddy Inc. All Rights Reserved.
Source: GoDaddy Inc.
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SOURCE GoDaddy Inc.