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Home > Web Hosting > CentralNic to acquire Wando

CentralNic to acquire Wando

CentralNic Group announced that the company has entered into a binding agreement to acquire Wando Internet Solutions.

Erdem Yasar by Erdem Yasar
February 24, 2021
in Web Hosting
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Domain name registry and registrar services provider CentralNic has entered into a binding agreement to acquire Wando for an initial consideration of $6.5 million. Berlin-based Wando is operating in the fields of social marketing, sisplay advertising, and SEM advertising.

$6.5 million

Ben Crawford, CEO, CentralNic
Ben Crawford, CEO, CentralNic

Wando generated unaudited revenue of $5.6 million and unaudited EBITDA of $ 1.4 million in the fiscal year 2020. CentralNic’s distribution network will be an important sales channel for Wando. Through a closer vertical integration, CentralNic aims to grow Wando’s sales.

According to the announcement, the initial consideration, which is subject to customary adjustments for cash and net working capital, will be paid from the proceeds from the Group’s recent bond placement. Under the terms of the agreement, the sellers of Wando may earn up to another$6.5 million in the third quarter of 2022 subject to stretched performance targets being met. Ben Crawford, CEO, CentralNic, said,

“We are excited by the vertical integration that this acquisition brings. Wando provides us with a new platform, expert staff, and a growing, profitable extension to our existing business and we expect it to bring accelerated growth and augmented margins for our fast-growing monetization business.”

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Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7 News. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7 News, Erdem was the managing editor of T3 Magazine.

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