Reglikedomain industry desk

KeyDrive purchases Moniker and SnapNames

Oversee.net sells off domain marketplace, expiring domain, and registrar firms.

[Update: read this follow up story to understand what this means for clients.]

KeyDrive, which owns domain name registrar Key-Systems as well as NameDrive, has purchased SnapNames and Moniker from Oversee.net.

Combined, KeyDrive states it is now the sixth largest ICANN accredited registrar.

Rumors regarding the buyout have been swirling around DOMAINfest this stretch. KeyDrive has now updated its web site to confirm the buyout.

Both SnapNames and Moniker were challenging acquisitions for Oversee.net. SnapNames lost its most notable domain registrar, Network Solutions, shortly following the buyout in 2007. It then dealt with the so-called “halvarez” scandal where a SnapNames employee was found shill bidding in auctions.

Moniker was also a challenge, primarily since it was purchased at the peak in early 2008. Oversee.net paid regarding $24 million for the domain registrar. Although the sale price hasn’t been disclosed, you can bet it took a sizable loss on the sale.

Also on the wire

Other reporting from the domain desk.

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