Domain registrar and web hosting provider Go Daddy announced on Friday it has officially closed its investment deal with strategic financial partners, KKR, Silver Lake and Technology Crossover Ventures.
First announced in July, the deal initially had a reported price tag of $2 billion to $2.5 billion. The partnership “creates a vibrant technology company poised to expand farther and faster internationally,” according to the press release.
As reported earlier this month, the final condition of closing was the Chinese Ministry of Commerce approving the deal because of Go Daddy’s planned expansion in Asia, which will include a customer call center and office.
Go Daddy offers a wide range of services including hosting, website creation services and building tools, along with online storage, secure SSL certificates, personalized email with spam and anti-phishing filtering, e-commerce tools, and online marketing solutions.
This new partnership deal expands Go Daddy’s resources and is primarily focused on the expansion of its cloud-based technology services and acceleration with international growth.
“People have asked me, with all the success Go Daddy is having, why bring in partners now? My response is simple. This is the right group of people at just the right time,” said Go Daddy founder Bob Parsons. “These three firms have what it takes to help lift Go Daddy to the next level. KKR, Silver Lake and TCV each have a keen sense for technology and a proven savvy with international business affairs. We know our new partners can help Go Daddy expand in ways that make sense for both our customers and our company. That’s why I have insisted on continuing as Go Daddy’s single largest shareholder.”
Parsons also said the three investment companies will help Go Daddy make acquisitions and technology deals in the new Asian markets.