TIG Team Internet Group Plc

TIDMCNIC

RNS Number : 1517E

CentralNic Group PLC

26 October 2022

26 October 2022

CentralNic Group plc

("CentralNic" or the "Company", or the "Group")

Acquisition Announcement

CentralNic Group Plc (AIM: CNIC), the global internet platform that derives recurring revenue from marketplaces for online presence and online marketing service s, is pleased to announce that it has entered into an agreement to acquire Intellectual Property Management Company, Inc. ("IPMC"), a California-based domain name management business for an enterprise value of USD 7.6m in cash, representing c.2.8x its 2021 unaudited revenue and c.7x its 2021 Adjusted EBITDA, subject to customary adjustments for net cash and working capital. The purchase price is settled from existing liquidity reserves.

IPMC provides subscription-based corporate domain management services to enterprise customers including many globally recognised brands, which are highlighted on IPMC's website at https://ipm.domains/. On acquisition IPMC will be integrated into the enterprise channel within CentralNic's Online Presence segment. The Company expects better coverage and increased market share in the North American market as well as synergies from streamlining procurement and operations. The acquisition will be immediately earnings accretive.

Ben Crawford, CEO of CentralNic, said : "Domain management to protect enterprise customers against cyber squatters is a strategic priority for CentralNic. IPMC has been entrusted with the protection of some of the finest brands in the world, which will now join more than 1,000 corporations and organisations that already rely on CentralNic's domain management suite of services."

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 (NOMAD and Joint Broker) 
  Nick Cowles / Jamie Peel / James Edis 
  (Investment Banking)                        +44 (0) 161 831 1512 
  Dominic King (Corporate Broking)            +44 (0) 203 829 5000 
 Berenberg (Joint Broker) 
  Mark Whitmore / Richard Andrews / Alix 
  Mecklenburg-Solodkoff                       +44 (0) 20 3207 7800 
 SEC Newgate (for Media)                    +44 (0) 203 757 6880 
  Bob Huxford / Isabelle Smurfit / Max       centralnic@secnewgate.co.uk 
  Richardson 
 

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 online marketplaces allowing businesses globally to buy subscriptions to domain names for websites and email, monetise their websites, and acquire customers 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.

For more information please visit: www.centralnicgroup.com

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October 26, 2022 02:00 ET (06:00 GMT)

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