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$150 million in Oversee.net’s holding company. Specific terms of the transaction were not disclosed.
According to Oversee, the funds will be used to augment organic growth and acquire technologies that will enhance its suite of services in the online marketing and domain name industries. The company will
also continue to evaluate possible acquisitions that
would extend its overall capabilities.
“Oak Hill understands that the online marketing, traffic and domain name sectors are rapidly growing, and they share our vision for establishing Oversee as a leading, trusted partner for domain owners and advertisers” said Oversee.net co-founder and CEO
Lawrence Ng. “Their commitment and support will add fuel for organic growth and will help us capitalize on opportunities to broaden our capabilities.” |
Lawrence
Ng
CEO and Co-Founder, Oversee.net |
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Robert
Morse, a Partner at Oak Hill Capital Partners, added, “Oversee is an innovative company which we believe is well positioned for growth over the coming years. We’re looking forward to working with Lawrence and his talented team as they play a leadership role in this dynamic industry.”
The transaction is expected to close by the end of this
month.
(Posted
Jan. 15, 2008) |
