LONDON, UK: CentralNic Group, the global internet platform that derives revenue from the subscription sales of internet domain names, has announced the acquisition of Hexonet Group is now complete.

Hexonet, with operations in Canada and Germany, 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 acquisition increases CentralNic’s domains under management by c.28%.

Completion of the acquisition follows CentralNic paying €7.0 million for all shares in Hexonet. The Company will further make a deferred payment of up to €3.0 million on the first anniversary of completion, payable in cash or CentralNic shares at prevailing market price, at the Company’s discretion.

Ben Crawford, CEO of CentralNic, said: “This transaction marks another important step in CentralNic’s strategy to rapidly consolidate the global recurring revenue domain name industry. Like CentralNic, Hexonet has a high level of recurring revenue and excellent customer retention. Its technically advanced global reseller platform and expert staff further boost our market share and competitiveness. We look forward to providing further updates in future.”