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Go Daddy Group Inc. has been sold to a group of private equity firms in a deal valued at $2.25 billion.
The purchase, which includes assumption of the company's debt, was announced Friday afternoon by Go Daddy and the group of firms, made up of KKR & Co., Silver Lake Partners and Technology Crossover Ventures.
"What these guys see is a company with a lot more potential internationally and more potential to make partnerships and acquisitions," Bob Parsons, the company's chief executive and founder, said. "They'll help us finance and they'll help us recruit talent."
Though the Scottsdale, Ariz., company is already the industry leader in domain registration, a person familiar with the negotiations said the investment group is excited about the growth potential of Go Daddy's other services, such as Web hosting and online marketing.
From 2009 to 2010 the company's sales grew by 25% to $947 million, and the company projects its figure for 2011 to be $1.1 billion.
Go Daddy became the world's largest domain registrar after it began airing racy Super Bowl commercials featuring bikini-clad Go Daddy Girls.
Recently, Silver Lake soldcommunications company Skype Global to Microsoft Corp. for $8.5 billion after purchasing it from EBay for about $2 billion two years ago.
TCV, which has not previously worked with Silver Lake or KKR, recently led a group of firms on a $135-million investment in Facebook.
Silver Lake and KKR have previously worked together, buying Avago Technologies in 2005 and helping it go public in 2009.
Source: http://latimesblogs.latimes.com/technology/2011/07/go-daddy-sold-for-225-billion.html
The purchase, which includes assumption of the company's debt, was announced Friday afternoon by Go Daddy and the group of firms, made up of KKR & Co., Silver Lake Partners and Technology Crossover Ventures.
"What these guys see is a company with a lot more potential internationally and more potential to make partnerships and acquisitions," Bob Parsons, the company's chief executive and founder, said. "They'll help us finance and they'll help us recruit talent."
Though the Scottsdale, Ariz., company is already the industry leader in domain registration, a person familiar with the negotiations said the investment group is excited about the growth potential of Go Daddy's other services, such as Web hosting and online marketing.
From 2009 to 2010 the company's sales grew by 25% to $947 million, and the company projects its figure for 2011 to be $1.1 billion.
Go Daddy became the world's largest domain registrar after it began airing racy Super Bowl commercials featuring bikini-clad Go Daddy Girls.
Recently, Silver Lake soldcommunications company Skype Global to Microsoft Corp. for $8.5 billion after purchasing it from EBay for about $2 billion two years ago.
TCV, which has not previously worked with Silver Lake or KKR, recently led a group of firms on a $135-million investment in Facebook.
Silver Lake and KKR have previously worked together, buying Avago Technologies in 2005 and helping it go public in 2009.
Source: http://latimesblogs.latimes.com/technology/2011/07/go-daddy-sold-for-225-billion.html
