G+T is pleased to be advising leading web technology company Web.com on its proposed acquisition of the Webcentral Group Limited by scheme of arrangement.
Webcentral (formerly known as Arq Group Limited) is an ASX-listed provider of online business services including internet domain name services, web hosting, and other digital marketing services. Through its Netregistry, Melbourne IT and WME brands, Webcentral serves approximately 330,000 small and medium Australian businesses with domain names, web hosting and digital marketing customers.
Web.com’s proposal delivers cash certainty to Webcentral shareholders and is unanimously recommended by Webcentral’s board, in the absence of a superior proposal and subject to an independent expert concluding the scheme is in the best interests of Webcentral shareholders.
Commenting on the deal, partner Kevin Ko said: “After advising Web.com on its acquisition of Dreamscape Networks by scheme last year, we’re thrilled to be working with Web.com on this highly complementary acquisition which extends its strategic move into the Australian, New Zealand and Southeast Asian markets. We’re also pleased that our public M&A expertise will help our client execute this complex deal in a challenging environment.”
The scheme is expected to be implemented in late 2020.