Host.net, a hosting provider based in the US, announced it had completed an acquisition deal where NOVACAP, a private equity firm in Canada, would take full control of its operations.
Its current CEO and co-founder took charge of the deal, including enlisting the help of DH Capital to act as both a financial advisor and manager. As of this writing, the organisation released no financial details on the deal. Observers predict the deal was extremely lucrative, however, as the Host.net website touts its debt-free state and millions of dollars worth of annual revenue each year.
Jeffrey Davis, the co-founder of the organisation, will continue in his current position as CEO. The joining of NOVACAP and Host.net will not change the web host’s current operations and customers will see exactly the same services as previously. The new ownership structure is likely to make some major changes in the future, though.
Announced in a press release, the company’s whole management will continue in its current role, along with Thomas and David Turner remaining on the web host’s board of directors within the new setup. Stephane Tremblay, Ted Mocarski, and Tuan Tran will also join the company’s board of directors.
Mocarski said of the acquisition, “We are excited to have completed the Host.net acquisition in partnership with its Senior Management team and founder Jeffrey Davis.” The senior advisor continued to say, “The company has an impressive track record of growth and success as well as operational excellence and technological leadership. This is an extremely successful business with market leading products and services, a history of innovation, a robust customer base, and a highly qualified committed team focused on growth.”
So far, both companies have said little about the specifics and what it could mean for the future. All they revealed was that normal service would not see any major changes because of the acquisition.