Marchex, Inc. today announced the sale of the bulk of its domain portfolio for aggregate proceeds of $34.8 million, as well as additional earn-out considerations. The $34.8 million total includes a $28.1 million transaction detailed below, as well as $6.7 million in direct domain sales by Marchex since January 2015.
The company has entered into a definitive agreement to sell more than 200,000 domains to GoDaddy Inc., the world’s largest technology provider dedicated to small businesses. Under the agreement, Marchex received cash consideration of $28.1 million upon closing plus additional earn-out payments subject to certain sales targets.
“Our complete focus is on establishing Marchex as the world’s leading mobile advertising analytics company,” said Pete Christothoulou, Marchex Chief Executive Officer. “A significant and growing majority of the consumer engagement and sales driven by mobile advertising happens offline, such as through phone calls. Narrowing our focus on this opportunity, while growing our balance sheet, strengthens our ability to continue delivering technology solutions that bring accountability to mobile advertising and transform business performance for our clients.”