Group NBT, the leading UK domain name management company and managed web hosting provider, has acquired Ascio Technologies, a Copenhagen-based provider of domain name services, for DKK 200 m (USD 35 m) in cash, shares and options. Ascio's business concept for domain name services and brand management on the internet will now be developed into a global business.
Ascio also has sales offices in Oslo, Munich and Zurich, which complement Group NBT’s existing presence in the UK, France, Germany, Spain and the US. Ascio's revenues for 2005 were DKK 117 m (USD 20 m), 24% up on the previous year. Unaudited Q1-3 revenue was DKK 109 m (USD 19 m).
Commenting on the acquisition Geoff Wicks, CEO of Group NBT, said: “It gives us access to a significant part of the European market much faster than we could have achieved by organic growth alone and also provides good opportunities to increase our sales." "We are delighted to be working with the Ascio management team which will strengthen the Group’s ability to grow and develop throughout Europe.”
Investors in Ascio include IVS, Nordic Venture Partners and Vækstfonden. Claus Højbjerg from Nordic Venture Partners commented: "Ascio and NBT have a combined size which now makes us co-owners of a global leader in the field, so the adventure is really only just beginning."
The news was reported by comon.dk