Endurance Completes Acquisition of Directi
Last September, there were reports that publicly traded Endurance International Group had agreed to acquire Directi, a company founded by brothers Divyank & Bhavin Turakhia. In a press release this evening, Endurance announced that the acquisition has been completed.
According to the release:
“Endurance International Group is pleased to announce that it has completed the acquisition of the web presence business of Directi, which operates India’s leading domain registration business. The acquisition of Directi includes B2B brands ResellerClub, LogicBoxes and webhosting.info as well as successful web presence brand BigRock.”
The press release didn’t announce the financial terms of the acquisition, but I would assume those final figures will be made public in subsequent SEC filings. According to the Endurance S1 filing from September 9, 2013, the deal was for “between $100 million and $110 million in cash or, at the election of the seller, a combination of cash and shares of our common stock.”
One interesting tidbit from the press release, and probably something that isn’t a surprise to anyone who knows the Turakhia brothers, is that Bhavin Turakhia will remain on board to help with the integration process. The CEO spoke highly of Turakhia and his company’s employee recruiting efforts in the news release.
Congratulations to Divyank & Bhavin, who started this company from scratch and built it into a reported 9 figure transaction.
Reach out to Elliot: Twitter | Google + | Facebook | Email