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As rumored last month, web hosting giant Endurance International Group (EIG) has been sold – but not to VPN specialist J2 Global as expected.
The owner of well-known web hosting and website builder brands such as Hostgator, Domain.com, Bluehost, Constant Contact and Resellerclub was worth around $859 million last month, but private equity firm Clearlake has agreed to pay a significant premium and handle the enormous outstanding debt.
In total, the all-cash deal is valued at $3 billion, putting the price of Endurance at $1.34 billion (a near 64% premium) and outstanding debt at $1.66 billion.
Not all parties are happy with the sale, however. Given the fact that EIG shares are on a steep upward trajectory – having risen by 541% since March – some shareholders feel the business was…