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October 02, 2013

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Here's the The Lowdown from DN Journal,
updated daily
to fill you in on the latest buzz going around the domain name industry. 

The Lowdown is compiled by DN Journal Editor & Publisher Ron Jackson.

Sedo Founders Sell Remaining Shares to United Internet - Co-Founder Tim Schumacher Comments on Deal That Will Take Sedo Private 

European internet giant United Internet has acquired the last 4.46 million shares of Sedo that were still held by the company's co-founders, a move that will allow United to take Sedo private.

After paying 2.60 per share for the co-founders remaining stake, United now holds 96.05% of Sedo stock, a threshold that allows them to "squeeze out" any remaining shareholders by paying them fair market value for their shares (German law has this squeeze out provision that can be exercised when one entity controls 95% or more of a company's shares).

United Internet said they plan to "integrate the 

 

Affiliate Marketing and Domain Marketing business fields operated by Sedo Holding AG more closely into the strategic development of the United Internet Group."

Tim Schumacher
Sedo Co-Founder and Former CEO 

In a note this morning, Sedo Co-Founder and former CEO Tim Schumacher told me, "This is a good step for Sedo. Taking Sedo private will remove significant unnecessary costs and distraction of being a public company, and will thus allow more intensive focus on the core: customers and products."

Schumacher said, "For me and my co-founders personally, by selling our remaining shares, we will close an important chapter of our life. Thank you again to everyone who was - and especially to everyone who still is - part of the Sedo story, as customer, partner or team member!"

Schumacher added, "All the best also to Tobias & his team - we trust him to lead Sedo well into the next successful decade!" (this in reference to current Sedo CEO Tobias Flaitz who took over those duties from Schumacher on Feb. 1, 2012).

United Internet is a major conglomerate with nearly 13 million customers and just under 

6,500 employees. In addition to Sedo they are the parent company of 1&1, GMX, WEB.DE, United-Domains, Fasthosts, InterNetX and Affilinet.

(Posted October 2, 2013)


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