Internet domain provider Go Daddy is in talks to be sold for 2 billion dollars. The announcement came via today's Wall Street Journal (WSJ). Technology companies have been hot for most of the year, and many who follow the industry anticipated something was in the works.
As reported by WSJ last September, investment bank Qatalyst Partners was hired to see what kind of deal could be developed. Based on today's announcement, they may have struck oil!
Go Daddy is the largest Internet domain registrar. Companies seeking Internet presence must register whatever name they wish to be called. The technical process to go "live" is to have a registrar complete the process.
The company is a leader in its industry. In addition to registering names, it provides an array of hosting, shopping carts, and other products needed for companies or individuals to get full Internet visibility.
Go Daddy has grown rapidly since starting in 1997. Customers have been attracted to them by their trendy commercials. Racecar driver Danica Patrick is their national "face." Additionally, their "Go Daddy Girls" get huge viewership from their sexually provocative commercials.
Currently they are in talks between two privately held venture capital companies, private-equity KKR & Co. and Silver Lake Partners. The deal is being closely guarded; however, there is speculation a formal announcement could come as early as next week.
Photo courtesy of Manningmbd Wikimedia Commons
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