Web.com to Acquire Network Solutions

. August 5, 2011 . 0 Comments

Web.com, Inc., has announced the signing of a definitive agreement with Network Solutions, a provider of web-based technology for small business, website creation, web hosting and domain name registration, for the company to acquire Network Solutions.

The company says that under the terms of the agreement, upon the closing, it will pay Network Solutions USD 405 million in cash and issue 18 million shares of its common stock, in addition to refinancing existing net debt of Network Solutions and paying certain fees. Network Solutions is currently majority owned by General Atlantic LLC, a global growth equity firm. Wells Fargo Securities, BofA Merrill Lynch and J.P. Morgan acted as financial advisors and Cooley LLP acted as legal counsel to the company. Goldman Sachs and Deutsche Bank acted as financial advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to Network Solutions. Lead arrangers and bookrunners for the debt financing are J.P. Morgan, Deutsche Bank, Goldman Sachs and SunTrust Robinson Humphrey, Inc.

Category: Hosting News

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