CentralNic completes Melbourne IT acquisition, should close Hexonet next week

Company integrated two domain businesses funded by bond sale.

CentralNic (AIM: CNIC) has completed its acquisition of what was left of the former Melbourne IT’s reseller business. Called TPP Wholesale, the division includes a strong reseller base in the Australasia region. CentralNic paid AUD $24 million for the business.

Tucows acquired the bulk of Melbourne IT’s reseller business in 2016.

CentralNic says it plans to complete its acquisition of Hexonet, a reseller and retail registrar, by August 5. It is paying €10 million for the business that has 3.8 million domains under management.

The company is paying for the acquisitions through a €50 bond issue. This is the first time the company has tapped the bond markets to fund acquisitions.

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