Herndon, Virginia – (The Hosting News) – March 12, 2007 – Web hosting provider, domain name registration and services firm, Network Solutions, has been acquired by General Atlantic, a global private equity firm, from Najafi Companies (formerly Pivotal Private Equity).
General Atlantic Managing Directors, Mark Dzialga and Anton Levy, as well as additional directors, will join the Network Solutions Board of Directors. Champ Mitchell, Chairman and CEO of Network Solutions, and the current Network Solutions management team, will continue to lead the company.
Mr. Mitchell remarked, â€œOur new partnership with General Atlantic will help us continue to grow our business by enhancing and expanding our product set while continuing to provide our customers with an outstanding customer service experience. With GAâ€™s knowledge, experience and resources in the Internet industry, we also will look at expanding through new acquisitions and distribution channels.â€
Mr. Dzialga added, â€œWe believe Network Solutions is in a strong position to capture the small business market. This company understands and delivers what small businesses need and expect from an online services provider â€“ quality products with strong customer support.â€
Mr. Levy offered, â€œChamp and his team are committed to providing the online expertise small businesses want and need to succeed on the web. We look forward to working with them to achieve their strategic growth initiatives.â€
General Atlantic LLC is a global private equity firm providing capital for growth companies driven by information technology or intellectual property. The firm was founded in 1980 and has approximately $12 billion of capital under management. General Atlantic has invested in over 160 companies, with current holdings in 50 portfolio companies of which about one-half are based outside the United States. The firm is distinguished within the investment community by its global strategy and worldwide presence, its commitment to provide sustained value-added assistance for its portfolio companies and its long-term approach. General Atlantic has over 70 global investment professionals among its 150 employees worldwide with offices in Greenwich, New York, Palo Alto, London, DÃ¼sseldorf, Hong Kong and Mumbai.
Network Solutions, provider of web based solutions and domain name registration services, offers a full range of web based services, including web hosting, web site design, e-commerce, online marketing, security services, e-mail and domain name registration services. Network Solutions draws on 26 years of experience to make it easy and affordable for customers to get online with tailored solutions that deliver tremendous value.
To learn more about General Atlantic, please visit: www.generalatlantic.com.
For more information about Network Solutions, please visit: www.networksolutions.com.