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CentralNic Group PLC (CNIC)

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Monday 22 February, 2021

CentralNic Group PLC

Acquisition of Wando

RNS Number : 8124P
CentralNic Group PLC
22 February 2021
 

22 February 2021


 

CentralNic Group plc

("CentralNic" or "the Company" or "the Group")

 

Acquisition of Wando

 

CentralNic Group plc (AIM: CNIC), the global internet platform that derives revenue from the subscription sales of domain names and web services, announces that it has entered into a binding agreement to acquire Wando Internet Solutions GmbH ("Wando") for an initial consideration of EUR 5.4m (c.USD 6.5m) (the "Acquisition"). The transaction is expected to close in the course of today.

 

Based in Berlin, Germany, Wando is a technology company operating in the fields of Social marketing, Display advertising and SEM Advertising.

 

In FY2020, Wando generated unaudited revenue of EUR 4.9m (c. USD 5.6m) and unaudited EBITDA of EUR 1.2m (c. USD 1.4m). CentralNic's distribution network is an important sales channel for Wando, representing more than half its revenue. Through a closer vertical integration, CentralNic expects to grow Wando's sales.

 

The initial consideration, which is subject to customary adjustments for cash and net working capital, will be paid from the proceeds from the Group's recent bond placement. Under the terms of the agreement, the sellers of Wando may earn up to another EUR 5.4m (c. USD 6.5m) payable in Q3 2022 subject to stretched performance targets being met.

 

Ben Crawford, CEO of CentralNic, said "We are excited by the vertical integration that this acquisition brings. Wando provides us with a new platform, expert staff, and a growing, profitable extension to our existing business and we expect it to bring accelerated growth and augmented margins for our fast-growing monetization business."

 

For further information:  

CentralNic Group Plc

Ben Crawford, Chief Executive Officer

Don Baladasan, Group Managing Director

Michael Riedl, Chief Financial Officer

 

 +44 (0) 203 388 0600

Zeus Capital Limited (NOMAD and Joint Broker)

Nick Cowles / Jamie Peel (Corporate Finance)

John Goold / Rupert Woolfenden 

(Institutional Sales)

 

 

+44 (0) 161 831 1512

+44 (0) 203 829 5000

Stifel (Joint Broker)

Fred Walsh / Alex Price / Richard Short

+44 (0) 20 7710 7600

 

 

 

Pareto Securities AS (Bond Arranger)

Lisa Karlsen

 

+47 411 04 466 [email protected]

SEC Newgate (for Media)

Bob Huxford / Tom Carnegie / Isabelle Smurfit

+44 (0) 203 757 6880

[email protected]

 

 

About CentralNic Group plc 

CentralNic (AIM: CNIC) is a London-based AIM-listed company which drives the growth of the global digital economy by developing and managing software platforms allowing businesses globally to buy subscriptions to domain names, used for their own websites and email, as well as for protecting their brands online.  Its core growth strategy is identifying and acquiring cash-generative businesses in its industry with annuity revenue streams and exposure to growth markets and migrating them onto the CentralNic software and operating platforms. 

 

CentralNic operates globally with customers in almost every country in the world.  It earns recurring revenues from the worldwide sales of internet domain names and other services on an annual subscription basis. 

 

For more information please visit: www.centralnicgroup.com 

 

 

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