Oversee buys Snapnames

[jaydub]

I got this in email..

To SnapNames Customers:

I'm writing to inform you that SnapNames has agreed to be acquired by Oversee.net. Oversee, a company already familiar to many in the domain name industry, is a technology-driven online marketing solutions company that offers an impressive array of services to domain name owners. You can learn more about the company at www.oversee.net.

It's important that you understand there will be no changes to the way SnapNames provides its services. This is a combination of two industry leaders with outstanding reputations for serving domain name investors and customers at all levels.

We were attracted to Oversee for many reasons, including the opportunity to offer SnapNames customers a greater breadth of service offerings. Together, the two companies can provide services that support our customers' needs throughout the entire life cycle of a domain name, including procurement, monetization and sales.

This transaction is expected to close in mid-June. There is more information available on our Web site at www.snapnames.com. Of course, we're always available to assist you in any way we can, and encourage your questions and comments. Our support team is available to you here:

On the Web: http://snapnames.custhelp.com
By e-mail: support@snapnames.com

At SnapNames, you will continue to find the world's largest selection of expired domain names. You'll find no changes to your account or the way you do business with us. We value you as a customer and thank you for your continued business.

Sincerely,

Sudhir Bhagwan
Chief Executive Officer

[simon johnson]

I was just about to post that !

It would be very interesting to find out how much they paid for it. Cash / shares etc... How do you put a value on a cash cow?

[typist]

there's another thread about this in the platinum lounge.

[sudesh]

So does that mean the PPC market is getting low attention and DropCatching getting hot??

[Rubber Duck]

Originally Posted by sudesh

So does that mean the PPC market is getting low attention and DropCatching getting hot??

In itself it really means nothing other than Oversee think they can do a better job of things than Snapnames, and the inference is that Snapnames agree with them.

What there objectives are is harder to say, but you could certainly not measure much by it. The price of $25M is not huge by any stretch of the imagination, so to suggest that this is seen as a major growth area is probably stretching the imagination somewhat.

Possible Scenario: Snapnames see the whole job hitting the the buffers in the near future, Oversee concur but want to get hold of the Client Database to sell them all kinds of domain related services. May not even be greatly interested in the drop business at all.

I am not saying that is what is going to happen, but it is at least as credible as the conclusions you have so readily jumped to.