Wednesday, June 14, 2017
Rightside Acquired By Donuts Inc. For $213M
Donuts Inc., the global, top level domain (gTLD) registrar and domain owner has Rightside Group Ltd., the domain name spinoff of Santa Monica-based Demand Media, the company announced on Wednesday. The deal is worth approximately $213M, or $10.60 per share in cash. According to the companies, the deal was unanimously approved by Rightside Group's board of directors, following a comprehensive review of strategic and financial alternatives. Rightside was advised by Barclays Capital and Wilson Sonsini Goodrich & Rosati in the deal; Donuts' was advised by Perkins Coie LLP, with a credit facility being provided by Silicon Valley Bank to help finance the transaction. Donuts also has operations in Los Angeles. Rightside spun out of Demand Media back in 2014.