U.S.-based Endurance International Group will be acquiring a part of web services firm Directi for $100-$110 million, according to a recent filing with Securities and Exchange Commission (SEC).
In its filing, the company said that it had agreed to acquire all the outstanding capital stock of Directi Web Technology Pvt. Ltd, a Mumbai-based domain name registrar, from Directi Holdings for $100-$110 million in cash—subject to the satisfaction or waiver of specified customary closing conditions.
However, it could not be ascertained, at the time of going to press, which of Directi’s business units are included in the deal. The deal is expected to be closed during the fourth quarter of 2013. “ …we paid $5 million to Directi Holdings, which will be credited against the purchase price, and will be refunded if the acquisition does not close for specified reasons,” the company said in the filing.
