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Sea Hires Advisor, Defeats Board Resolutions — Dark Blue

Sea Hires Advisor, Defeats Board Resolutions — Dark Blue

Domain firm wins board battle but hires outside firm to consider strategic options.

Dark Blue SeaDark Blue Sea has hired an advisor to explore the firm’s strategic options, and has won a challenge to its board makeup.

The firm, which operates domain registrar and parking firm Fabulous, hired mid-market advisory firm Allier Capital to help it “explore a range of strategic options”, the firm disclosed. The firm has been shopping around its service businesses over the past year. With the loss of its GoDaddy sales agreement, it is likely facing increased pressure.

Separately, the firm’s board staved off an attack to remove its chairman Vernon Wills and add two board members from Photon Group, a sizable shareholder. Still, Photon Group has been aggressively buying shares of the firm on the open market.

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