Netregistry/NAB deal shows online business is still strong

Written on 01 December, 2008 by Charlotte Norman
Categories Press Releases

Online Growth Solutions Ltd (OGS), the unlisted parent company of Netregistry, PlanetDomain and NETT Magazine, has partnered with National Australia Bank in a deal that promises to shake up the domain name and associated services industry in Australia. The $18 million deal is a combination of debt and quasiequity, NAB an implied 13.6% stake in the online brand while providing OGS strong funding for furtheracquisitions and growth.

Larry Bloch, OGS CEO says, “This deal with National Australia Bank demonstrates that quality, high growth, profitable businesses can be well placed to expand and grow in these difficult economic times. NAB has recognized the inherent strength of our strategic position and our reliable annuity income streams, and we are now excellently placed to leverage the close relationships we have with 250,000 Australian businesses.”

Compared to the general economy, online business is booming. Lower running costs and the ability to tap into wider geographical markets provides online business owners with more potential to increase revenue, while traditional businesses tighten their belts.

The resilience of the online economy in difficult times places OGS in an enviable position for growth. “We experienced our strongest quarterly growth since the tech wreck in the September quarter”, said Bloch.

OGS will announce a number of acquisitions into the New Year. “Having bought PlanetDomain in 2007, OGS always planned to continue expanding by acquiring other online brands,” Bloch explains. “Increasing market share through acquisition has already made OGS the number one domain name provider in Australia, but we plan to go much further and broader.”

In addition to a number of acquisitions that are either being negotiated or are agreed, OGS is looking for opportunities to expand the range of online services provided to our customer base, expected to grow to 500,000 Australian businesses within 18 months.

About OGS/Netregistry

Netregistry was founded in 1997 with a mission to deliver best of breed online products and services to the Australian SME market. Its world class infrastructure and global award winning customer service operation underpin the rapid growth that has seen it become the largest provider of Australian domain names and associated services, with over 250,000 Australian businesses serviced daily.

Netregistry publishes NETT Magazine, Australia's most widely circulated SME Business publication. NETT Magazine inspires and motivates small business owners to take advantage of the opportunities online offers to survive, compete and win. With the company’s core strengths in domain names, hosting, ecommerce and search marketing Netregistry is a one stop shop SMEs wishing to take their business further online. Netregistry provides SMEs with all the required elements of 21st century digital business infrastructure.