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Go Daddy sold for $2.25 billion

July 2, 2011 at 7:19 PM   |   Comments

SCOTTSDALE, Ariz., July 2 (UPI) -- Scottsdale, Ariz., Internet domain company Go Daddy Group Inc. says it has agreed to be sold to three private equity firms for $2.25 billion.

Go Daddy's top executive said the buyers -- KKR & Co., Silver Lake Partners and Technology Crossover Ventures -- see room for Go Daddy to grow as a Web hosting and Internet marketing firm, the Los Angeles Times reported Saturday.

"What these guys see is a company with a lot more potential internationally and more potential to make partnerships and acquisitions," Chief Executive Officer Bob Parsons said.

"They'll help us finance and they'll help us recruit talent."

Go Daddy sales grew 25 percent from 2009 to 2010 to $947 million. The company expects $1.1 billion in sales for 2011, the newspaper said.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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