CentralNic Group PLC Acquisition of Wando (8124P)
February 22 2021 - 2:00AM
UK Regulatory
TIDMCNIC
RNS Number : 8124P
CentralNic Group PLC
22 February 2021
22 February 2021
CentralNic Group plc
("CentralNic" or "the Company" or "the Group")
Acquisition of Wando
CentralNic Group plc (AIM: CNIC), the global internet platform
that derives revenue from the subscription sales of domain names
and web services, announces that it has entered into a binding
agreement to acquire Wando Internet Solutions GmbH ("Wando") for an
initial consideration of EUR 5.4m (c.USD 6.5m) (the "Acquisition").
The transaction is expected to close in the course of today.
Based in Berlin, Germany, Wando is a technology company
operating in the fields of Social marketing, Display advertising
and SEM Advertising.
In FY2020, Wando generated unaudited revenue of EUR 4.9m (c. USD
5.6m) and unaudited EBITDA of EUR 1.2m (c. USD 1.4m). CentralNic's
distribution network is an important sales channel for Wando,
representing more than half its revenue. Through a closer vertical
integration, CentralNic expects to grow Wando's sales.
The initial consideration, which is subject to customary
adjustments for cash and net working capital, will be paid from the
proceeds from the Group's recent bond placement. Under the terms of
the agreement, the sellers of Wando may earn up to another EUR 5.4m
(c. USD 6.5m) payable in Q3 2022 subject to stretched performance
targets being met.
Ben Crawford, CEO of CentralNic, said "We are excited by the
vertical integration that this acquisition brings. Wando provides
us with a new platform, expert staff, and a growing, profitable
extension to our existing business and we expect it to bring
accelerated growth and augmented margins for our fast-growing
monetization business."
For further information:
CentralNic Group Plc
Ben Crawford, Chief Executive
Officer
Don Baladasan, Group Managing
Director
Michael Riedl, Chief Financial
Officer +44 (0) 203 388 0600
Zeus Capital Limited (NOMAD
and Joint Broker)
Nick Cowles / Jamie Peel (Corporate
Finance)
John Goold / Rupert Woolfenden +44 (0) 161 831 1512
(Institutional Sales) +44 (0) 203 829 5000
------------------------------------------
Stifel (Joint Broker)
Fred Walsh / Alex Price / Richard
Short +44 (0) 20 7710 7600
------------------------------------------
+47 411 04 466 Lisa.Karlsen@paretosec.com
Pareto Securities AS (Bond Arranger)
Lisa Karlsen
------------------------------------------
SEC Newgate (for Media) +44 (0) 203 757 6880
Bob Huxford / Tom Carnegie / centralnic@secnewgate.co.uk
Isabelle Smurfit
------------------------------------------
About CentralNic Group plc
CentralNic (AIM: CNIC) is a London-based AIM-listed company
which drives the growth of the global digital economy by developing
and managing software platforms allowing businesses globally to buy
subscriptions to domain names, used for their own websites and
email, as well as for protecting their brands online. Its core
growth strategy is identifying and acquiring cash-generative
businesses in its industry with annuity revenue streams and
exposure to growth markets and migrating them onto the CentralNic
software and operating platforms.
CentralNic operates globally with customers in almost every
country in the world. It earns recurring revenues from the
worldwide sales of internet domain names and other services on an
annual subscription basis.
For more information please visit: www.centralnicgroup.com
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