(Ping! Zine Web Hosting Magazine) – LDC has announced that it has acquired a majority stake in the UK2 Group, an international provider of domain name registration and web-site hosting services, and will support management in expanding the portfolio of innovative hosting products and building on the Company’s position as the leading innovator in mass market hosting.
Phil Male, previously Chief Strategy Officer at Cable & Wireless Worldwide and Chief Operating Officer of Thus Group plc, joins the company as executive chairman. Working with the existing management, he will focus on driving the launch of new services and on growing the business organically and through acquisitions.
Outgoing CEO Ditlev Bredahl will transition management of the company to Phil Male and then devote his time solely to focus on his role as CEO of OnApp, which has developed the only Cloud deployment and management software designed specifically for the hosting industry.
Launched in July 2010 after two years of development, OnApp software already powers Clouds for some 200 hosting providers worldwide. OnApp will continue to be controlled by its existing shareholders.
This is LDC’s sixth deal of 2011 with £163 million already committed. The investment in the UK2 Group will further strengthen LDC’s existing TMT portfolio, which includes Avelo (previously 1st The Exchange), a market leading provider of technology solutions to the financial services sector, Easynet Global Services, a specialist B2B telecommunications operator and Musicmagpie.co.uk, the largest European purchaser and retailer of replay CDs, DVDs and Games.
Torch Partners acted as exclusive financial advisor to the Company on the transaction and Macfarlanes LLP acted as legal advisor to the Company and management. LDC was advised by Arma Partners and CMS Cameron McKenna LLP.