CentralNic acquires Wando

centralnic

CentralNic Group plc (AIM: CNIC) announced 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.”

Sold.Domains

About Konstantinos Zournas

Studied Computer Engineering and Computer Science in London, UK and now living in Athens, Greece. Love domains and building websites. Went online in 1995, learned about HTML in 1996 and about domains in 2002. Started publishing the OnlineDomain.com blog in 2012.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.