Hexonet, a German Internet services company with offices in Canada, has been acquired by CentralNic.
The British Registry will pay up to 10 million British Pounds (GBP) in two installments; the second of which is a 3 million GBP performance bonus due in 2020.
It’s evident that the German CEO, Jens Wagner, does not fear the consequences of Brexit!
We received the following press release with details on the acquisition of Hexonet by CentralNic:
CentralNic Group PLC to acquire HEXONET for €10m
London, Monday 1st July 2019: CentralNic Group PLC (AIM: CNIC), the fastest growing company in the domain industry, announced today it has entered into an agreement to acquire HEXONET/1API, an industry leader in domain name platforms, technologies, and services for thousands of reseller clients from around the globe.
While CentralNic has no immediate plans to change the HEXONET services and staff, one of CentraNic’s strategic goals is to develop the next generation domain name reseller platform. With CentralNic’s acquisition of KeyDrive, which includes the reseller platforms of Key-Systems and PartnerGate, the acquisition of HEXONET adds the complementary technologies, people and expertise to bring this future platform to fruition.
Ben Crawford, CentralNic CEO, said: “This is an exciting day for CentralNic and the culmination of five years of discussions. We welcome HEXONET/1API into the CentralNic family and promise that HEXONET customers will continue to receive the same excellent service they currently enjoy under our stewardship. Our vision and commitment for 2020 and beyond is to bring together the HEXONET and Key-Systems teams in the creation of our next generation reseller platform and services. The goal is to deliver the best technologies, functionality and automation to provide resellers access to the widest range of products and services, while providing them the expert 24/7 customer service they expect.”
The total consideration is up to €10m, with €7m to be paid in cash at completion, and an earn out of up to €3m payable in 2020. Proprietors Tony Kim and Jens Wagner will be staying on with CentralNic/HEXONET in the positions of Managing Director and CTO respectively, while Robbie Birkner is taking personal time off.
“HEXONET is the perfect complement for CentralNic,” according to Jens Wagner, CEO of HEXONET. “Ben has made very smart acquisitions in recent years, particularly with the purchase of KeyDrive, our largest direct competitor in global domain reselling. Key-Systems and HEXONET are both leaders in reseller domain name platforms and technology. By combining the two companies and unifying the platforms, the opportunities are going to be tremendous. I’m sure this marriage of HEXONET with the CentralNic Group is going to be successful and exciting!”
CentralNic buys Hexonet
