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CentralNic confirms talks about combination with KeyDrive
Software platform company CentralNic confirmed on Wednesday that discussions are taking place regarding a potential combination with KeyDrive and its subsidiaries including domain reseller platforms and the corporate registrar BrandShelter.
"The boards of CentralNic and KeyDrive Group believe that the combination of the two businesses would have strong strategic logic and economies of scale, and would represent an opportunity to create a group with advanced technology platforms delivering significant recurring revenues for every major customer type within the industry."
Discussions are still ongoing and there can be no certainty a deal will occur, but if it does, CentralNic expects it to complete in the second quarter of this year.
If the transaction proceeds, it will constitute a reverse takeover by CentralNic and accordingly, its ordinary shares been suspended from trading on AIM with immediate effect, pending either publication of an admission document containing detailed information on the proposed transaction or the termination of discussions regarding the proposed transaction.
The group said a further announcement will be made when appropriate.