Reglikedomain industry desk

Web.com to go private in $2 billion buyout

Siris Capital to acquire domain name and web presence firm for $25 per share.

Web.com (NASDAQ:WEB), the parent firm of domain name registrars Network Solutions and Register.com, has agreed to be purchased by an affiliate of Siris Capital Group in a $2 billion deal.

Shareholders will get $25.00 per share; shares closed yesterday at $23.20. It’s a 30% premium over the 90-day volume-weighted average price for Web.com shares.

Web.com may shop for a better offer between now and August 5. It expects the transaction to close in Q4.

Once the deal is completed, Web.com will be a private firm no longer traded on the NASDAQ.

The firm is going through a difficult transition that has caused its short-term numbers to dip. Going private will help the firm avoid short-term efforts to appease investors.

Siris Capital has taken other firms private in similar deals, such as Polycom and Digital River.

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