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CentralNic clicks on significant acquisition in Slovakia

CentralNic Group PLC (LON:CNIC) headed higher on Friday morning after the internet domain names specialist announced the €26mln acquisition of Slovakian counterpart SK-NIC and confirmed it is on track to hit full-year expectations.

CentralNic is paying an initial €21.27mln for SK-NIC – which manages the top-level domain name, or country code, for Slovakia, .sk – plus up to a further €4.85mln in future milestone payments.

The move is part of CentralNic’s strategy to expand into new territories and build up its product offering.

AIM-quoted CentralNic said the purchase, which is set to complete next month, would be double-digit earnings-enhancing in the first full year of ownership.

 

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