US-based Web.com buys ASX-listed Dreamscape Networks for $73m

Singapore office of Dreamscape Networks Limited (Source: Dreamscape Networks Limited's website)

Web.com, a US-based domain name and hosting provider, is acquiring Australian Stock Exchange (ASX)-listed Dreamscape Networks Limited (DNL) for A$105.00 million ($72.50 million) or A$0.270 ($0.190) per share in cash.

Web.com CEO Sharon Rowlands said in a statement: “Dreamscape provides a highly complementary set of offerings and, as a market leader, extends the Web.com global footprint across Australia, New Zealand, and the high growth digital economies of Southeast Asia.”

Web.com is wholly-owned by US private equity firm Sirius Capital Group, LLC (Sirius) which acquired the hosting service provider in June 2018 for $2 billion in an all-cash deal.

The domain hosting company was founded in 1997 as Website Pros, before rebranding as Web.com in 2008.

DNL is an online solutions provider company with 600 employees based in Australia, Singapore, and Southeast Asia. It offers brands/services like Crazy Domains, Vodien, and Sitebeat.com, a dedicated website builder and digital commerce platform.

DNL currently has over 2 million members and provides various online solutions to help members build their online presence.