Web hosting company and domain registrar GoDaddy announced this week that it has been taken over by private equity firm KKR & Co., Silver Lake Partners and Technology Crossover Ventures.
Financial details of the agreement were not disclosed, but The Wall Street Journal quoted an anonymous source who says that the contract was worth $ 2.25 million, of which about half is debt.
The deal was expected, the Journal reported last week that the agreement was in the works and nearing completion.
For now, GoDaddy CEO Bob Parsons remain in that role, the Journal said yesterday, adding that he will be the largest shareholder of GoDaddy. KKR and others will GoDaddy majority of investors.
The agreement will help to GoDaddy, the world's largest registrar of domain names, expand overseas and seeks buyout targets, Parsons told the Journal.
Financial details of the agreement were not disclosed, but The Wall Street Journal quoted an anonymous source who says that the contract was worth $ 2.25 million, of which about half is debt.
The deal was expected, the Journal reported last week that the agreement was in the works and nearing completion.
For now, GoDaddy CEO Bob Parsons remain in that role, the Journal said yesterday, adding that he will be the largest shareholder of GoDaddy. KKR and others will GoDaddy majority of investors.
The agreement will help to GoDaddy, the world's largest registrar of domain names, expand overseas and seeks buyout targets, Parsons told the Journal.
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