Tucows Sells It Equity Interest in Afilias

by

Tucows today announced it has sold all of its 7.38% equity interest in Afilias, a global provider of registry services, back to the company.

The purchase price of $7.4 million is payable to Tucows in three cash installments: $3.2 million today; $2.1 million in June 2009; and $2.1 million in December 2009.”This sale is another step in our stated goal to divest non-core assets in order to unlock hidden value for shareholders,” said Elliot Noss, President and CEO of Tucows Inc. “The proceeds of the sale provide additional funds that will be used to fund further share repurchases.

Tucows is up $.02 to $.35 in early trading today.

About Michael Berkens

Michael Berkens, Esq. is the founder and Editor-in-Chief of TheDomains.com. Michael is also the co-founder of Worldwide Media Inc. which sold around 70K domain to Godaddy.com in December 2015 and now owns around 8K domain names . Michael was also one of the 5 Judges selected for the the Verisign 30th Anniversary .Com contest.

Comments

  2. Steve M says

    Just gotta love companies when they spout this stuff … whenever they buy a piece of or an entire other company it’s usually, “Wonderful synergy … a great diversification opportunity … can extend our brand … ”

    And when they sell this same piece of or entire company, it’s usually, “Divest non-core assets … focus on our core business … ”

    Yet how often do we hear the truth, “We made a mistake.”

    Never.

  3. MHB says

    UPDATE

    Shares of Tucows were up 33% today or $.11 after the release of this news, on a day where the Dow was down almost 500 points and the NASDAQ was down almost 100.

    Very impressive