CentralNic Group plc, (LON:CNIC), the global software platform company supporting subscription web services including domain names, has today announced that it has entered into an agreement to sell a number of premium domain names, under which it will receive consideration of US$ 3.4 million.
Under the premium domain sales agreement, entered into on 6th November 2017, CentralNic will receive US$ 3.4 million consideration in cash, the proceeds of which will be utilised to further accelerate growth within the Group.
CentralNic Group CEO Ben Crawford said: “Management’s primary focus remains on growing CentralNic’s recurring revenue base and, therefore, premium domain name sales are expected to continue the trend of contibuting a decreasing proportion of the Group’s revenues from 2018.”
CentralNic is a London-based AIM-listed company which develops and manages software platforms allowing businesses globally to use the internet for their own websites and email, as well as protecting their brands online. Its core growth strategy is identifying and acquiring cash-generative businesses with annuity revenue streams and exposure to emerging markets, and migrating them onto the CentralNic software and operating platforms. The company operates globally with customers in over 200 countries. It earns revenues from the worldwide sales of internet domain names and hosting on an annual subscription basis.
