Interland, a provider of websites and online services for small and medium-sized businesses (SMBs), today announced that it has completed its asset acquisition from Web Internet, LLC (Web.com) and Web Service Company Inc. Included in the assets are the domain name Web.com, web hosting business comprised of approximately 9,000 subscribers, accredited registrar business and trademark rights. Interland paid approximately $4.8 million in cash, restricted stock and assumed liabilities.
As a result of this acquisition, Interland intends to change its corporate name to Web.com, Inc. The formal name change is expected to take place in the first half of 2006. The name change is a strategic move designed to clearly align the company with its branded line of business: offering web services (including websites, web hosting, and web marketing) for small and medium-sized businesses and consumers.
“Acquiring Web.com is an exciting step toward increasing our market penetration. Web.com is an under-utilized asset that we can unlock to reach its full potential,” stated Jeff Stibel, President and CEO, Interland. “In addition to a tremendous branding opportunity, this acquisition adds revenues, significant direct navigation traffic, and an entrance into the consumer segment of the web hosting market.”
The Web.com acquisition is anticipated to bring approximately $75K in monthly hosting revenues. The Web.com assets also generate one-time, non-recurring revenues which are not included in the recurring revenue total, such as domain registrations, domain privacy, URL forwarding and advertising and commerce revenues.
Interland intends to integrate Web.com’s offerings and customers within Interland’s infrastructure to maximize efficiencies and cost savings. Current Web.com CEO, Will Pemble, will join Interland as an Executive Vice President and will focus on building Web.com’s consumer and registrar business.
Interland has announced the acquisition of Web Internet, LLC (Web.com) and Web Service Company, Inc for $4.8 million. Included in the assets are the domain name Web.com, web hosting business, accredited registrar business and trademark rights.
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