Dreamscape Networks
(ASX:DN8) has entered into a binding agreement to acquire the entities and assets of Enetica Group businesses operating as Web City, Enetica and Host 1.
The acquisition has been bid for a total cash consideration of $4.46 million and is expected to be complete by the end of this month.
Enetica Group is a Sydney-based hosting and domain business, holding around 1.6 per cent of the .au domain market.
the group has more than 15,000 customers and 70,000 registered domains, with hosting accounting for approximately 79 per cent of its revenue.
This agreement extends Dreamscape’s footprint in Australia and its third strategic acquisition since listing in December 2016 including integration with Net Logistics and Vodien.
Shares in Dreamscape Networks
(ASX:DN8) last traded on the 20th of October 2.22 per cent higher closing at 23 cents a share.
