Endurance International Group Holdings, Inc released its financial results for its third quarter ( ended September 30, 2014 ). Here is the exciting part – they Acquires Arvixe, BuyDomains & Webzai for a total of about $77 million.
Here is the exact statement from their financial report – “During the quarter, the company acquired Webzai, Ltd. and the assets of BuyDomains. In addition, on October 31, 2014, the company acquired the assets of Arvixe, LLC. The total consideration for these acquisitions is expected to be approximately $77 million.
It’s no surprise Endurance made the acquisitions. In September, CEO Hari Ravichandran said that the company would be on the prowl for more web-hosting companies or firms that help small businesses online. Earlier this year, Endurance completed its $110 million acquisition of Directi, which operates India’s most prominent web domain registration business.
The company also said its revenue during the third quarter was $165 million, above analysts’ expectations of $163 million and up 23 percent from the same period a year ago. The company recorded a net loss of $7.9 million during the quarter, which ended September 30. Endurance also reported that its total paying subscribers had increased during the quarter by 94,000 to 3.8 million.
Endurance said the company expects to generate as much as $650 million for the fiscal year 2014, above its previously expected target of $643 million.
