GoDaddy to buy Host Europe Group for $1.82 billion

Markets Reuters

The GoDaddy inc. logo is shown on a computer screen in this illustration photo in Encinitas, California May 3, 2016. REUTERS/Mike Blake (Copyright Reuters 2016)

U.S.-based website domain name provider GoDaddy Inc said it would buy peer Host Europe Group (HEG) for 1.69 billion euros ($1.82 billion), including debt, as it looks to expand beyond the initial set-up of websites.

Continue Reading Below

GoDaddy said it would explore options for HEG's PlusServer managed hosting business, including a possible sale.

HEG is currently owned by European private equity firm Cinven, which acquired the business in August 2013.

Reuters had reported last month that GoDaddy was in exclusive talks to buy the company.

(Reporting by Narottam Medhora in Bengaluru; Editing by Anil D'Silva)