An announcement from GoDaddy read that the company is about to acquire Neustar Inc, a registry business, for a price of USD 218, payable in cash. The deal is expected to take place in the coming months.
GoDaddy also disclosed its fist quarter 2020 financial results. The total revenue of the company for the period stands at USD 792 million, which is an increase of 11.5 percent on a year over year basis.
According to Aman Bhutani, the CEO of GoDaddy, his company delivered strong first quarter results in very uncertain times for companies, especially small businesses but despite the difficulties, they remain focused on innovating for the benefit of their customers. He believes that delivering more value to their customers also increases the value for the shareholders of the company.
Similar is the opinion of the Ray Winborne, the CFO of the company. According to him, the first quarter company results demonstrated the strength and durability of their business model despite operating in a very challenging environment.
The disclosed revenue figures are as follows:
- The USD 792 million total revenue is up by 12.3% on a constant currency basis or 11.5% year over year
- Operating activities accounted for a net cash increase of USD 233.3 million – a year over year increase of 16.8%.
- Total bookings stood at USD 951.1 million – up by 10.1% on a constant currency basis or 9.3% year over year
- Revenue from hosting and presence stood at USD 297.2 million – a year over year increase of 10.5%.
- Revenue from domains stood at USD 355.9 million – a year over year increase of 11.4%.
- Revenue from business applications stood at USD 138.9 million – a year over year increase of 14.3%.
- Revenue from international operations stood at USD 262.4 million – a year over year increase of 7.1%.
GoDaddy hopes that the acquisition of the Neustar Inc. registry, which is about to conclude in the coming months, will help the company introduce domain registry level innovations and give more options to its customers at a competitive price.
The current owner of Neustar is Golden Gate Capital, which acquired the registry back in 2017.
In related news, GoDaddy also started the OpenWeStand initiative, through which it offers small businesses a range of free resources and tools to help them keep operating in a difficult and uncertain time.
