Go Daddy, the world's largest registrar of domain names, has been sold to a group of private equity firms for $2.25 billion. The three firms are identified as KKR & Co., Silver Lake Partners and Technology Crossover Ventures (TCV). The firms will assume the company's debt as part of the deal.
Go Daddy announced the sale late Friday. A person close to the transaction, who asked to remain anonymous because of not being authorized to speak publicly, told the AP the sale price.
The Go Daddy Group Inc. was founded in 1997 by Bob Parsons, who continues to serve as its CEO. The company, based in Scottsdale, Ariz., manages more than 48 million domain names, and sells other Internet-related technologies.
From 2009 to 2010 the company grew 25%, resulting in a sales revenue of almost $950 million. The company projects a sales revenue of over $1 billion this year. Silver Lake, the former owner of Skype Global, sold Skype Global to Microsoft. TCV led a $135 million investment in Facebook, KKR and Silver Lake helped Avago Technologies go public in 2009 after buying it in 2005.
A fact sheet accompanying the release indicated that Go Daddy's revenue has grown by more than 20 percent in each of the past several years.