Domain registration and web hosting leader, GoDaddy Inc. GDDY announced that it has completed the acquisition of Host Europe Group (HEG). The company claimed that the acquisition has made it a market leader for small business cloud services in Europe.
The deal is valued at €1.69 billion (US$1.79 billion), out of which €605 million will be paid to selling shareholders and €1.08 billion in assumed net debt.
Host Europe Group is one of the largest independent web hosting firms in the continent. It operates brands such as 123Reg, Domain Factory, Heart Internet and Host Europe. Host Europe Group was purchased by private equity owner Cinven in 2013 for £438 million and since then has done well to evolve as a leader in its field.
