Company enters into non-binding letter of intent to be sold to Dutch company.
Domain name registrar NameSilo (CSE:URL) has entered into an agreement to be sold to a Dutch company.
WGH Holdings B.V. has entered into a non-binding letter of intent to acquire the company. It will pay a total of US $30 million for the company, with $15 million upfront and $5 million annually for three years. It has a 60-day due diligence period.
The buyer WGH Holdings B.V. was organized in the Netherlands in November. According to filings with the country’s Chamber of Commerce, it is owned by Roland Vos Beheer BV, which has a sole shareholder, Roland Vos.
While NameSilo has grown significantly since being acquired by current management in 2018, it has also struggled to make large debt payments. Its parent company NameSilo Technologies Corp includes going concern warnings in its financial statements. It has frequently entered into amended agreements with its creditors to delay payments. As of September, it still owed CAD $7.6 million.
NameSilo has over 3.5 million domains under management.
I have reached out to NameSilo for more details about the buyer.
Post link: NameSilo finds buyer as debt payments loom
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