Endurance International Group to go private in $3 billion deal

Clearlake Capital to acquire EIGI.

Clearlake Capital Group is acquiring Endurance International Group (NASDAQ: EIGI) in a $3 billion deal (including debt).

The private equity company will pay $9.50 per share, a 64% premium over Friday’s closing price of $5.81.

Endurance International Group is a rollup of web hosting and domain name companies. Its brands include BuyDomains, BlueHost, Hostgator, Domain.com, and Constant Contact, among others.

The company has struggled to integrate its systems and brands over the years and has also suffered under a huge debt load. Its revenue has also struggled to tread water; but in Q3 revenue was up 3% year-over-year.

Share peaked above $20 in 2015. But anyone who bought shares this year will be happy with the result. Shares dipped below $2.00 during the Pandemic panic, and the $9.50 acquisition price represents the highest price the stock has hit since October 2018.

Post link: Endurance International Group to go private in $3 billion deal

© DomainNameWire.com 2020. This is copyrighted content. Domain Name Wire full-text RSS feeds are made available for personal use only, and may not be published on any site without permission. If you see this message on a website, contact editor (at) domainnamewire.com. Latest domain news at DNW.com: Domain Name Wire.

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: