According to rttnews.com, NCC Group plc (NCC.L), a provider of Escrow, Assurance and Domain Services, Tuesday said it has acquired the Belgium and Luxembourg based Open Registry group of companies for a maximum consideration of 14.9 million pounds or 19.5 million euros in cash.
The company will make an initial payment of 7.9 million pounds or 10.3 million euros.
Two further payments of up to 7.0 million pounds or 9.2 million euros in total will be made over the next 36 months against performance related targets.
The acquisition is expected to be earnings neutral initially before becoming earnings enhancing in year two
Open Registry Group is an independent group of domain service companies providing backend registry operationsto brand customers, registrar and trademark validation services.
The company said the acquisition will enable it to offer a one stop shop providing secure domain services to corporate customers, including both registry and registrar services.
In London, NCC shares were trading down over 2% at 211.50P. The company has a 52 week trading range of 169.80 – 234.41.
