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Endurance International files for IPO, plans to buy Directi for USD 110 million

Endurance-DirectiEndurance International has filed for an IPO with plans to raise up to USD 400 million, the company has also stated that it will be spending up to USD 110 million of the money it will raise for buying Directi, an Indian domain registrar, reports Domainincite.

Massachusetts based Endurance International Group Holdings Inc, is a provider of cloud-based services. Founded in 1997, it now has around 3.4 million subscribers across the world and provides a comprehensive suite of 150 products and services. It provides services like website design creation, email and ecommerce solutions, etc.

Directi was founded in 1998 by Bhavin Turakhia and Divyank and provides services like Communication and Collaboration apps, Social Networking software, Instant messaging, Online Advertising Solutions, DNS Management Products, Linux, etc.

Whereas Endurance International, is one of the top hosting companies in the US among GoDaddy, and United Internet, with its brands including HostGator, Bluehost and FatCow, so Directi’s acquisition will be a right fit to its existing services. Though the deal is not final yet, but Endurance’s S-1 filing with the US Securities and Exchange Commission states:

Directi’s various business units include, Radix, LogicBoxes, Skenzo, etc. Radix Registry has around 29 active new gTLD applications, 26 of which are contested. In the filing Endurance has also proposed to help Radix win these contention sets. While Logic Boxes which provides back end solution for registrars and Skenzo, which is a domain name monetization company which appears would go along with the sale.

BigRock which is also part of Directi’s businesses, is powering around 7 million domains, with around 150,000 customers as of now

Endurance International which has tripled its revenue to USD 292.2 million, while its net losses reached to USD 139.3 million from USD 44.3 million since past 3 years, has plans to get list its shares on the Nasdaq under the symbol EIGI. Goldman Sachs, Credit Suisse and Morgan Stanley are lead underwriters to the offering.

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