The Go Daddy Group, Inc., the world’s largest provider of Web hosting, domain names and new SSL Security Certificates, announced it has signed a definitive agreement to receive a strategic investment and enter into a partnership with KKR, Silver Lake and Technology Crossover Ventures. Financial terms of the transaction were not disclosed.
Founded in 1997, Go Daddy is the world’s largest on-ramp for cloud-based software and services. The company serves more than 9.3 million global customers and manages more than 48 million domain names. Go Daddy has locations in Arizona, Colorado, Iowa, Washington, D.C., Singapore, Toronto and The Netherlands, and is headquartered in Scottsdale, Arizona.
Go Daddy’s track record of strong organic growth has been driven by its innovative products and differentiated customer service. The Company offers more than 50 product lines, including comprehensive hosting solutions, website creation services and building tools, secure SSL Certificates, personalized email with spam and anti-phishing filtering, e-commerce tools, online marketing solutions and more.
“I’ve always said we would make a move like this when the right deal with the right partners could help us do the right thing for our customers and our employees,” said Go Daddy CEO and Founder Bob Parsons. “This is it! We are partnering with KKR, Silver Lake and TCV because of their technology expertise, their understanding of Web based businesses and because their values align with ours. We believe, together, we will take the company to the next level, especially when it comes to accelerating international growth.”
Go Daddy is widely recognized for its industry leadership:
- Ranked on the Inc. “500/5000” List of the nation’s fastest-growing privately-held companies for seven years, including 2009 and 2010;
- “Innovator of the Year” by NetApp in 2011;
- Ranked on the Deloitte “Technology Fast 500” List for six years, including 2009 and 2010.
Greg Mondre, Managing Director, of Silver Lake said: “Go Daddy is powerfully positioned for future growth as it continues to innovate and add to its truly unique platform of cloud-based software and services. At the same time, we plan to maintain and augment all of the attributes that have made Go Daddy a clear market leader today, including world class customer support and competitive pricing for its 9.3 million customers.”
“In Go Daddy, we are pleased to be partnering with a high-growth market leader and an outstanding team,” said Herald Chen, head of KKR’s software and Internet effort. “Building on Go Daddy’s exceptional customer service and loyal customer base, we believe there is significant opportunity to expand the current portfolio of products and services as well as accelerate growth internationally.”
Will Griffith, General Partner at TCV, which is also joining KKR and Silver Lake as an investor in Go Daddy, said: “For years, we have admired what Bob and the team have built with Go Daddy. We are excited to invest in the business and contribute to its continued success.”
The transaction is subject to customary closing conditions. Qatalyst Partners served as the exclusive advisor to Go Daddy in connection with the transaction. Barclays Capital, Deutsche Bank Securities, Inc. and RBC Capital Markets acted as financial advisors and, along with KKR Capital Markets, they or their affiliates provided financing commitments for the transaction.
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