CentralNic, a publicly traded registry service provider that trades on the London Stock Exchange, has acquired Internet.BS, a ICANN accredited domain registrar based in the Bahamas. According to Gregg McNair, Internet.BS Chairman, the registrar is approaching 800,000 domain names registered and the company has registrants in 199 countries. Reuters reports the deal is a mix of cash and stock, and it has a “maximum consideration of $7.5 mln.”
This strategic acquisition gives CentralNic a direct relationship with domain registrants. Prior to the deal, the company’s primary focus was its registry service provider business, although it operated a few consumer facing portals such as www.la, Buydomains.london, and Buy.menu.
Commenting to DomainInvesting.com, CentralNic CEO Ben Crawford said, “acquiring Internet.bs with its entire team has put us years ahead of where we would be with organic growth.” Crawford cited the “commitment to great technology, great people and great service” as something that will unite the two companies. Registrants will continue to work with IBS staff who are staying with the company.
The united company will continue to operate under two brands. “We’re maintaining the Internet.BS branding, as the company has spent ten years building a reputation as a low cost registrar with great domain management tools, and we will be building on that reputation,” Crawford told me.
Internet.BS was founded by Marco Rinaudo, and in September of 2012, the company named McNair as the company’s Chairman. This is not McNair’s first deal with CentralNic. McNair serves as the Chairman of the CO.com Registry, and the registry uses CentralNic as its back-end provider.
Press release from Internet.BS:
CentralNic Acquires Internet.BS
The ICANN accredited Bahamian registrar business of Internet.bs Corp. (IBS) has been acquired by CentralNic Group PLC (“CentralNic”) in a move that is intended to provide IBS customers with continued and expanded leading-edge, personalized registrar services.
CentralNic, as one of the world’s top domain name Registries and a publically listed company on the London Stock Exchange, is well positioned to continue and enhance the IBS tradition of providing best of breed quality Registrar services targeting end user domain owners, small to larger resellers and domainers wanting the security, reliability, and ease of use at the best price available
Gregg McNair, IBS Chairman worked closely with Ben Crawford, CEO of CentralNic, to effect the sale of the IBS business along with Marco Rinaudo, IBS Founder and CEO.
The IBS story goes back more than ten years when Italian born Rinaudo sold his ICANN accredited hosting business in France, in yet another Rinaudo success story. He then moved with his French wife to the Bahamas where they established IBS – a highly cost-efficient registrar and domain administration technical platform that passes the cost benefits on to customers.
The family later moved to Panama as the IBS business grew steadily with fellow Panamanian resident McNair being appointed to the board some two years ago with the aim of helping position the business for future growth and diversification.
“I am pleased to confirm that all IBS staff will continue with me to ensure a seamless transition” said Marco Rinaudo, “I am very excited to see the Company that I founded and nurtured for more than 10 years enter this new phase of development. The great working relationship that I have forged with Ben Crawford and the CentralNic team provides me with the assurance that my IBS customers will be well supported in the future and will appreciate the proposed broadening of services to be introduced by the combined team. I will be working alongside Ben to make sure that happens in the best interest of our established and new customers.” he said.
Ben Crawford said, “A registrar that serves customers in 199 countries is pretty remarkable. And when you add to that IBS’s advanced technology, its smart, efficient people and its commitment to low prices and great service, that all makes IBS the kind of company we are excited to have join the CentralNic Group.”
Gregg McNair, IBS Chairman said “I am delighted to bring together two excellent businesses. Further I am pleased to have been able to assist my good friend and business partner Marco, in this transaction. CentralNic certainly has the capacity and resources to take the IBS business to the next level”.