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GoDaddy Sold for $2.25 Billion. Sort Of.
lexipixel




msg:4334029
 5:25 am on Jul 2, 2011 (gmt 0)

It sounds more like Bob Parson has agreed to "take on investor/partners" more than an outright sale. Note Bob uses the word "partnering"...

The Wall Street Journal reports:

GoDaddy Group Inc., a closely-held company that registers Internet domain names, agreed to be bought by private-equity firms KKR & Co., Silver Lake Partners and Technology Crossover Ventures.

The companies declined to provide a purchase price, but people familiar with the matter said the deal is worth $2.25 billion, roughly half of which is debt.

"We are partnering with KKR, Silver Lake and TCV because of their technology expertise, their understanding of web-based businesses and because their values align with ours," GoDaddy Chief Executive and founder Bob Parsons said in a press release.

Mr. Parsons will remain the site's largest single shareholder and its chief executive, but the private-equity firms will be the majority investors, people familiar with the matter said. Mr. Parsons eventually plans to transition out of the CEO role to executive chairman but will remain involved closely, those people said.

[online.wsj.com...]


 

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