CVC Capital Partners has entered an agreement to acquire a majority stake in Namecheap for a valuation of $1.5 billion, which includes debt. The news was reported by The Wall Street Journal. Founder Richard Kirkendall will maintain a significant share in the company after the acquisition.
Last year, Namecheap reported revenues of around $400 million and is recognized as the second-largest domain name registrar, boasting 11.5 million registered .com domains, in addition to many more across other extensions. The company has earned a reputation for providing affordable domain registration and has been notably vocal in its competition with GoDaddy, the current largest registrar.
In addition to Namecheap, the acquisition will also encompass Spaceship, a platform aimed at attracting domain name investors. This move highlights the growth and consolidation trends in the domain registration industry, potentially reshaping competition dynamics with GoDaddy and influencing pricing, service quality, and investor engagement in the future.
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