Host Europe Group (HEG), a Middlesex-based web hosting firm, is set to be acquired by GoDaddy for €1.69bn.
HEG’s shareholders and GoDaddy’s board of directors have approved the transaction, which is subject to regulatory approval and not expected to close until the second quarter of 2017.
Bought by European private equity firm Cinven in 2013, HEG serves small businesses and web experts and claims to have over 1.7 million customers.
The deal is designed to help boost GoDaddy’s international expansion.
GoDaddy CEO Blake Irving spoke about the acquisition:”GoDaddy has successfully expanded its international business to 56 global markets over the past four years.”
He added:
“HEG has built an impressive business that generates strong top-line growth, high margins, and industry-leading customer satisfaction. By joining forces with HEG, we accelerate our expansion into Europe with the delivery of a broader range of cloud-based products, built on a single global technology platform, and supported by unparalleled customer care to help small businesses and web designers succeed online.”
Patrick Pulvermüller will lead the combined company’s European operations.
“In combining with GoDaddy, we see a remarkable opportunity for our customers, partners and the small business ecosystem in Europe. What stands out is the strategic alignment of the companies – we’re both driven to empower people to transform their ideas and bring them to life online. Together GoDaddy and HEG will provide even more value for our customers and introduce new solutions to help their ventures succeed,” added Pulvermüller.
HEG currently has offices in the UK, Germany, France, Spain, Romania and Bulgaria.