NEW YORK (AFP) – Go Daddy, the world's largest registrar of Internet domain names, said on Friday that it was selling a stake to three major investment firms including private-equity giant KKR.
"The Go Daddy Group, Inc. ... has signed a definitive agreement to receive a strategic investment and enter into a partnership with KKR, Silver Lake and Technology Crossover Ventures," the company said in a statement.
The company did not disclose details of the transaction, but the Wall Street Journal, citing anonymous sources, put the size of the deal at $2.25 billion including the assumption of Go Daddy's debt. It said the new investors would own a majority of the company.
Founded in 1997, Go Daddy says that it manages more than 48 million Internet domain names and serves more than 9.3 million customers around the world.
Go Daddy's new investors will help it "accelerate growth internationally," Harold Chen, head of software and Internet for KKR, said in the statement. KKR is a leading private-equity firm with more than $60 billion under management.
Last year, Go Daddy stopped registering domain names in China after the Chinese authorities sought to tighten control over its activities there, following a similar move by Google.
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