Web site and Internet hosting provider Interland Inc. has signed an agreement to buy assets from Web Internet LLC and Web Service Company Inc. including the domain name Web.com and its trademark rights, for $4.4 million.
The deal is also expected to include approximately 9,000 Web hosting accounts.
“Web.com is one of the leading brand names on the Internet and resonates with virtually everyone,” says Jeff Stibel, president and CEO of Interland. “This strategic acquisition gives us a valuable marketing and positioning vehicle for our services and brings tremendous visibility and direct navigation traffic which is expected to drive organic growth moving forward.”
Interland expects the Web.com acquisition to boost its hosting revenue by $900,000 annually. The company plans to close the deal before the end of the year. Web.com CEO Will Pemble will join Interland as an executive vice president.
Interland Inc. www.interland.com
Web.com www.web.com
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