Leading European web hosting provider group.one to enter Serbian market by acquiring Slovakian company Webglobe which also operates in Serbia

Source: eKapija Sunday, 26.05.2024. 12:55
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The leading European web hosting provider headquartered in Sweden group.one is expanding into Central and Eastern Europe by signing an agreement to acquire the Slovakian company Webglobe as the entrepreneur Igor Strecko and the majority owner, private equity firm Sandberg Capital, are selling a 100% stake in this company, which also operates in Serbia as Webglobe doo Nis.

Webglobe’s website says that group.one is one of the most well-known companies offering cloud and hosting services in Europe and that, as of 2022, it is backed by multibillion-dollar British private equity fund Cinven and one of the largest pension funds in the world, the Ontario Teachers' Pension Plan.

Daniel Hagemeier, CEO of group.one, commented that "the CEE region is a vibrant space offering immense potential for providing digital solutions to small businesses.”

– This strategic acquisition aligns perfectly with our growth ambitions. With Webglobe’s strong position in the region and talented team, we are confident in our ability to accelerate growth and innovation in this dynamic region – said Hagemeier.

Webglobe was founded in 1999 by Igor Strecko and Juraj Hantak. The company gradually grew thanks to dozens of acquisitions. Today, it manages almost 300,000 registered domains belonging to almost 100,000 clients and registers approximately 10% of national domains in Slovakia, the Czech Republic and Serbia.

Advisors on the transaction on the seller side were investment bank Raymond James, law firms Barger Prekop (Slovakia); Kocian, Solc, Balastík (Czechia); and Moravcevic, Vojnovic and partners (Serbia) and financial advisor BDO.

Let us remind that, in 2022, Sandberg Capital invested EUR 20 million in the Serbian software company Quantox Technology.

B. P.

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