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Toronto, Ontario, Canada, 2016/03/15 - Tucows, Inc. announced that it has entered into a definitive agreement to acquire the international wholesale domain reseller channel of Melbourne IT Limited (ASX: MLB) - MelbourneIT.com.au / Tucows.com. NASDAQ: TCX NAME; TSX: TC
Tucows, Inc., a global provider of network access, domain names and other Internet services, today announced that it has entered into a definitive agreement to acquire the international wholesale domain reseller channel of Melbourne IT Limited (melbourneit.com.au). The acquisition will add hundreds of resellers and approximately 1.6 million domains under management to Tucows’ OpenSRS wholesale domain business. Tucows will not acquire any of Melbourne IT’s operations and the transaction will be immediately accretive to earnings.
“This acquisition represents an excellent opportunity to acquire a loyal, profitable base of resellers that have the same core needs as our existing wholesale customers,” said David Woroch, Tucows’ EVP Domains. “Importantly, the scalability of our OpenSRS platform allows us to meaningfully expand our base of domains under management while adding minimally to our operating costs.”
As a Tucows reseller on the OpenSRS platform, the new customers will immediately have access to over 600 top level domains (TLDs), a wide range of SSL certificates, email services and plugins to all the most popular billing and automation solutions.
“Wholesale domain services for web hosting companies and ISPs has been a core component of the Tucows business for more than 16 years,” added Mr. Woroch. “Today, we are one of the largest wholesale domain name registrars in the world and the step function growth from this transaction will allow us to even better leverage our platform as we continue to invest in the business.”
The financial terms of the transaction were not disclosed and are not considered to be material for Tucows.
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Tucows is a provider of network access, domain names and other Internet services. Ting (ting.com) delivers mobile phone service and fixed Internet access with outstanding customer support. OpenSRS (opensrs.com) manages over thirteen million domain names and millions of value-added services through a global reseller network of over 13,000 web hosts and ISPs. Hover (hover.com) makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows’ corporate website (tucows.com).
Investor Contact: Lawrence Chamberlain
P: 416-815-0700 x25 - E: lchamberlain[.]tmxequicom.com.