Reglikedomain industry desk

CentralNic completes Melbourne IT buyout, ought to close Hexonet next week

CentralNic completes Melbourne IT buyout, ought to close Hexonet next week

Firm integrated two domain businesses funded by bond sale.

CentralNic logoCentralNic (AIM: CNIC) has completed its buyout of what was left of the former Melbourne IT’s reseller business. Called TPP Wholesale, the division includes a strong reseller base in the Australasia region. CentralNic paid AUD $24 million for the business.

Tucows purchased the bulk of Melbourne IT’s reseller business in 2016.

CentralNic states it plans to complete its buyout of Hexonet, a reseller and retail registrar, by August 5. It is paying €10 million for the business that has 3.8 million domains under management.

The firm is paying for the acquisitions through a €50 bond issue. This is the first time the firm has tapped the bond markets to fund acquisitions.

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