Melbourne, Australia – (The Hosting News) – May 25, 2006 – Domain registrar, Melbourne IT, plans to acquire web hosting company, WebCentral. WebCentral shareholders will vote about the acquisition in a meeting that will likely be held in August 2006. According to the company, this union will bring together two of Australia’s most powerful domain and hosting companies.
Australian-based Melbourne IT provides domain registration services for Yahoo! Small Business and Microsoft Office Live, among others, while WebCentral is Australia’s largest hosting provider. The merged company will have approximately 400 employees worldwide and combined annual sales of over $130 million.
Theo Hnarakis, CEO and Managing Director of Melbourne IT commented, ”The proposed acquisition will bring together two of Australia’s leading web-services businesses, generating significant benefits for customers, shareholders and staff of both companies.”
Melbourne IT has been rising steadily on the Australian Stock Exchange over the last six months, while the WebCentral stock price has experienced a significant decline. This could be a motivating factor for the deal to take place at this time, from WebCentral’s perspective.
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