A photo of Go Daddy founder Bob Parsons on a recent visit to Haiti
(WEB HOST INDUSTRY REVIEW) -- Web hosting provider and domain registrar Go Daddy (http://www.godaddy.com/) is close to being acquired by private equity firms KKR & Co (http://www.kkr.com/) and Silver Lake Partners (http://www.silverlake.com/) for between $2 billion and $2.5 billion, according to several reports on Friday.
At this point, the deal has not been confirmed by either party. Reports on the Wall Street Journal and Reuters say a source close to the matter has said the deal could close as early as next week.
Go Daddy initially shopped around for buyers in September 2010, but Bloomberg says the company was looking for a higher evaluation. In September the number sat around $1 billion.
Bloomberg says that the company is an attractive buy because its primary customer base is small businesses, a market that has seen tremendous growth in the past few years.
Go Daddy is arguably the most well-known Web hosting company outside of the industry, as its wide-reaching marketing campaigns anchored by flashy Superbowl commercials and spokeswomen including racecar driver Danica Patrick and personal trainer Jillian Michaels of Biggest Loser fame.
Recently, reports surfaced that say Go Daddy is set to launch its cloud computing service in July. This move could increase its customer base even more as consumers look for ways to implement cloud infrastructures for their small businesses.
If this deal went through, it would be the largest acquisition of a Web hosting provider.
Article Source http://www.thewhir.com/web-hosting-news/062411_Web_Host_Go_Daddy_Rumored_to_Sell_for_2_Billion permits to republish here.
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