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Endurance International Group Acquired by Clear Lake Capital for $3 Billion

Sienna Rowley by Sienna Rowley
November 6, 2020
in Cloud
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Endurance International Group Acquired by Clear Lake Capital for $3 Billion

The web hosting giant Endurance International Group (EIG) has been acquired by Clearlake Capital Group in a multi-billion-dollar deal.

The owner of the famous web hosting and website builder brands like Hostgator, Domain.com, Bluehost, Constant Contact, and Resellerclub was worth about $859 million in the previous month, however, private equity firm Clearlake has consented to pay a significant premium and manage the gigantic outstanding debt.

In total, the all-cash deal is estimated to be valued at $3 billion, setting the price of Endurance at $1.34 billion (a proximal 64% premium) and outstanding debt at $1.66 billion.

Endurance International Group Deal

A few shareholders consider the acquisition to be under-priced as, since March, the EIG shares have seen a steep upward trajectory, while the shares rose by 541%.

Under the terms of the definitive agreement, which has been collectively accepted by the members of the Endurance Board of Directors, affiliates of Clearlake will procure all of the outstanding common shares of Endurance for $9.50 for each share in cash.  The buying price signifies a 79% premium above Endurance’s unaffected share price of $5.30 as of September 25, 2020, the last trading day before media speculation regarding a possible transaction, and a 64% premium to its closing share price on October 30, 2020, of $5.81.

Jeff Fox, President and Chief Executive Officer of Endurance stated

We are gratified with this acquisition which appreciates the value of our multi-brand scale platform.  We are proud to help serve about 5 million customers across the globe as a provider of solutions that serve small and medium businesses to thrive online and improve the value of their customer relationships

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Tags: BlueHostClear Lake Capital GroupEIGEIG acquiredEndurance Internation GroupEndurance International Group Acquired by Clear Lake Capital for $3 BillionHostgatorResellerclub
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Sienna Rowley

Sienna Rowley

Sienna is an editor at Cloud Host News. She is an internet enthusiast, always eager to explore the latest trend in the tech space. In her free time, she is a modest family woman who loves traveling.

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