LONDON, UK: CentralNic Group Plc (AIM: CNIC), the global internet platform that derives recurring revenue from marketplaces for online presence and online marketing services, 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 7.6 million in cash. 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.”
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.