CentralNic continues global expansion with Brazil acquisition

(Sharecast News) - AIM-listed domain and web services group CentralNic has continued its global expansion with its €2.56m acquisition of Romania and Brazil-focused registrar and domain hosting provider GlobeHosting.CentralNic acquired the business assets of the Delaware-based firm with an initial consideration of €1.5m on Thursday, coupled with a deferred payment of €608,000 due on the first anniversary of completion anda further €450,000 due on the second anniversary.GlobeHosting generated revenues of €849,000 for the year ended 31 July and an EBITDA of €419,000.The transaction marked CentralNic's third acquisition in nine months as it continued on its industry consolidation strategy, expanding into key markets that offer significant growth opportunities.CentralNic's chief executive Ben Crawford, said: "GlobeHosting plugs very easily into CentralNic's business operations and enhances the quality of the group's earnings.""The transaction adds to CentralNic's access to the Romanian and Brazilian markets, which each exhibit attractive characteristics for sustained growth, as well as taking advantage of the upselling capabilities and economies of scale that CentralNic brings to the companies it acquires," added Crawford.As of 0930 BST, CentralNic shares had dipped 2% to 49p.