Toby Hall, chief executive of Minds + Machines Group Limited (LON:MMX), discusses with Proactive's Andrew Scott their decision to acquire ICM Registry LLC - a Florida-based owner of four high value, niche top level domains.
ICM reported US$7.27mln of net sales in 2017, generating net income of US$3.5mln. Notably, 78% of the revenue was renewal based, while 14% were premium sales.
Hall also talks through Minds + Machines Group's 2017 results - in which they've confirmed their maiden year of profitability.
MMX reported a US$3.8mln profit, improving from the US$4.5mln loss in the preceding year and operating earnings (EBITDA) amounted to US$5.3mln, from a US$1.3mln loss.