Internet domain name registration and Web hosting company Go Daddy Group Inc. has agreed to be bought by a consortium of private equity firms including KKR & Co., Silver Lake Partners, and Technology Crossover Ventures.
The company, which runs the GoDaddy.com website, was valued by the firms at $2.25 billion, according to reports citing unnamed sources within the company.
Go Daddy’s current CEO, Bob Parsons, will remain a shareholder with a minority stake in the firm. "I’ve always said we would make a move like this when the right deal with the right partners could help us do the right thing for our customers and our employees," Parsons said in a statement from Go Daddy.
Go Daddy is known for its unique SuperBowl television advertisements as well as having race car driver Danica Patrick as a spokesperson.
The company currently has more than 48 million domain names under management and 9.3 million customers globally.
“We plan to maintain and augment all of the attributes that have made Go Daddy a clear market leader today, including world class customer support and competitive pricing,” said Greg Mondre, a managing director at Silver Lake, in a statement.
A fact sheet released by the company said that it has grown by over 20 percent per year.