NameSilo update: record revenue, acquisition still in the works

Company tops $3 million revenue in March.

Domain name registration company NameSilo (CSE:URL) issued an update on its operations today.

In the release, the company said that monthly revenue exceeded USD $3 million in March for the first time ever. It also paid down nearly $1 million (Canadian) of debt, bringing its outstanding debt to under CAN $5 million.

The company now has 3.82 million domain names under management.

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In December, the company announced that it entered into a non-binding letter of intent to sell its assets to WGH Holdings BV for USD $30 million. The idea is to combined NameSilo into a domain registration business in Africa. The release states, “Both parties continue to work towards meeting the conditions to enter into a definitive agreement. More details will be announced when available.”

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