[GoDaddy] Sold to three private equity firms for US$2.25 billion

Started by Xhanch Studio, July 02, 2011, 08:37:35 PM

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GoDaddy, the world’s largest domain registrar, has been sold to three private equity firms in a deal valued at $2.25 billion, the company announced late Friday.

As a report predicted a week ago, private equity firms KKR & Co., Silver Lake Partners and Technology Crossover Ventures sealed the deal, in which they agreed to take on GoDaddy’s debt. That report indicated the company would be sold for between $2 billion and $2.5 billion.

Company founder and CEO Bob Parsons predicted further growth of GoDaddy under its new ownership. He said to the Los Angeles Times, “What these guys see is a company with a lot more potential internationally and more potential to make partnerships and acquisitions. They’ll help us finance and they’ll help us recruit talent.”

GoDaddy, known for its sexy Super Bowl ads and controversial CEO with a penchant for elephant killing, has seen significant growth over the past three years, with sales rising by 25% to $947 million from 2009 to 2010. The company projected growth for 2011 to continue that trend, quoting a figure of $1.1 billion for the year.
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