Dreamscape for USD $73 million — Web.com buys

Registrar buys registrar with big presence in Australia.

screenshot of CrazyDomains.com.au, an Australian domain name registrar

Web.com is bolstering its business Down Under.

The domain registrar and hosting firm is buying Dreamscape Networks Limited (ASX: DN8) for AUS $105.2 million, or regarding USD $73 million. The firm employs 600 people.

Dreamscape is known for its flagship registrar CrazyDomains, which focuses on the Australian market. It also owns Singapore’s Vodien, which it bought for USD $23 million in 2017.

The firm had total 2018 fiscal year revenue of $61.6 million and a net profit following tax of $2.7 million. It noted an adjusted EBITDA of $10.3 million. For the second half of calendar year 2018, the firm had revenue of $35.5 million.

Its revenue is split fairly evenly between domain names and hosting services.

The buyout price is at a 32% premium to the closing price of Dreamscape shares on July 19.

The firms hope to close the transaction by October.