Network Solutions sold!

[Daniel Domainer]

I received this forwarded to me today. I heard the purchase price was $800 million.

NETWORK SOLUTIONS ANNOUNCES OWNERSHIP CHANGE

GENERAL ATLANTIC TO BUY STAKE FROM NAJAFI COMPANIES Herndon, VA - February 6, 2007 - Network Solutions , a leading provider of online solutions for small businesses, announced today that General Atlantic , a leading global private equity firm, has entered into a definitive agreement to acquire Network Solutions from Najafi Companies (formerly Pivotal Private Equity). Champ Mitchell, chairman and CEO of Network Solutions, and the current Network Solutions management team will continue to lead the company. Terms of the transaction were not disclosed.

"General Atlantic brings a long-standing wealth of knowledge, global resources and expertise in the technology sector that will assist us in continuing to expand our product and service offerings to help small businesses who want to establish and grow their companies online," said Champ Mitchell, chairman and CEO of Network Solutions. "This new partnership should help us accelerate our current 30 percent top-line growth rate. Network Solutions is gaining a strong long-term partner with a solid track record of investing in companies and assisting with their strategic growth initiatives."

"Today, there are more than one billion people using the Internet to search and shop for products and services, which is driving small businesses to establish and develop their online presence. This creates a tremendous opportunity for Network Solutions to help small businesses establish, enhance, and market their companies online," said Anton Levy, managing director of General Atlantic.

"Network Solutions has one of the broadest portfolios of products in the industry, strong brand recognition, a solid understanding of the small business market and a dedicated team of professionals committed to providing the support and online expertise these companies need to be successful on the Web. With four million customers, it is one of the largest small business providers anywhere, especially on the Internet," added Mark Dzialga, managing director of General Atlantic. "We are looking forward to working with Champ and his team."

Network Solutions, which Najafi Companies purchased from VeriSign Inc. in November 2003, was the first company acquired by the newly formed private equity firm. During its tenure with Najafi Companies, Network Solutions transformed itself from a domain registrar to a leading provider of online services and solutions for small business customers.

"General Atlantic and Najafi Companies share similar investment philosophies, including a focus on investing for the long-term, creating value through growth and committing to investments to ensure their success," said Jahm Najafi, CEO of Najafi Companies. "This agreement is beneficial for all parties, positioning Network Solutions to continue its market leadership and growth."

About General Atlantic
General Atlantic LLC is a leading 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 150 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, Düsseldorf, Hong Kong and Mumbai. For further information and a listing of GA's public and private portfolio companies see www.generalatlantic.com .

About Najafi Companies
Najafi Companies is a private investment firm based in Phoenix, Arizona. The firm makes highly-selective investments up to $2.5 billion in size in companies with strong management teams across a variety of industries, and often in industries out of popular favor. The firm takes a long-term view on its investments and focuses its efforts to create value through growth and superior performance. Najafi Companies funds investments with its principals' capital, not through a fund. Free from the restrictions of a fund, the firm is able to move quickly and decisively when investing, and with no requirements to return capital to outside partners, Najafi Companies is able to make investments that create maximum value for the long term. For more information about Najafi Companies, visit www.najafi.com .

 

[simon]

interesting.
thanks for the info.

 

[BELLC1]

They probably paid $1.00 for current management and $800 million for the domains they have kept from the general public for forever.

 

[EM @MAJ.com]

They probably paid $1.00 for current management and $800 million for the domains they have kept from the general public for forever.

Smart move... LOL

 

[Theo]

At least they were smart enough not to buy GD.

 

[FormerDnForumer]

They probably paid $1.00 for current management and $800 million for the domains they have kept from the general public for forever.

Exactly. RegisterFlyByNight learned all their tricks from the master NSI.

 

[BELLC1]

So did they just buy Network Solutions and not Verisign? VS still owns GD, right?

 

[Focus]

Verisign? lol..they own everyone.

 

[Dave Zan]

So did they just buy Network Solutions and not Verisign? VS still owns GD, right?

Edit: I just found from another source that VeriSign fully divested themselves
of Network Solutions a year or so ago. But VeriSign never owned Go Daddy.

I can't even imagine what Bob's going to do before he ever sells Go Daddy.

 

[Tia Wood]

Smart move! Now maybe they'll shape up and drop prices....

 

[BizBot]

I remember when Network Solutions had a monopoly on all the .com, .net and .org names. I believe the first name I registered there cost $150 for a 2 year registration. Prices dropped after the registrations were opened up.

 

[dnalias]

Expect some big changes at NetSol!

Good article, Thanks Dave

NetSol needed some help! They are to Domains what AOL is to ISPS.
Loosing cutomers and lagging in inovation.