cPanel, the web hosting automation software platform well-known in the worldwide hosting industry, has been acquired by a group of investors led by Oakley Capital. The group also owns Plesk and SolusVM. Oakley Capital acquired Plesk in May 2017, while Plesk, in turn, acquired SolusVM, which supplies software for VPS management, among other things.
Based in Houston, Texas, cPanel employs over 220 team members and has customers in more than 70 countries. Oakley Capital expects this acquisition to enable significant investment in new product and feature innovation while supporting growth in headcount in Houston where cPanel will continue to be headquartered. Financial terms of the acquisition were not disclosed.
There will be no immediate customer impact, stated Oakley Capital. cPanel will continue to run as an independent business and Oakley Capital fully anticipates that cPanel will keep its name, and be managed separately until a time if any when integration with other Oakley group companies is in the best interests of the companies and minimizes any impact to customers and employees.
cPanel founder Nick Koston
Current CEO, Nick Koston – who founded the company in 1997, will remain in his position. While Mr. Koston sold his interest in cPanel, he will continue to be an owner of the company that now owns cPanel.
“This investment reflects a great step forward for cPanel,” said cPanel CEO Nick Koston. “Our team has developed software that contributes to the success of millions of websites operating globally and looks forward to continuing to do so with the same passion that you, our loyal customers have come to love. This investment will give Internet infrastructure providers access to a wider range of software, features and support. I am excited about what the future holds for the company and the great team at cPanel.”
After signing the cPanel acquisition agreement, there are a number of steps that need to take place before the transaction is final. These steps include a governmental review. While the companies will seek a speedy governmental review, they cannot estimate a closing date.
Read more at Investment Company Behind Plesk, Oakley Capital, Buys cPanel on Website Hosting Review.