This article originally appeared at The WHIR
Oakley Capital Investments announced on Wednesday that it has agreed to dispose of Intergenia Holding GMBH and its subsidiaries to Host Europe, a deal valued at 210 million euros (around $261.61 million US).
The consideration will be satisfied in cash.
The disposal is still subject to approval from the German and Austrian merger control authorities, according to a report Wednesday by Alliance News. Upon approval of the acquisition, HEG will be the largest managed hosting provider in Germany, the company says.
“intergenia is a market leader in their field, and we welcome them into the HEG fold,” Patrick Pulvermüller, Group CEO of HEG said in a statement. “We look forward to unlocking our combined expertise to complement and build on our offerings across Europe. We are always looking for ways to enhance the services that we provide our customers. The intergenia product range will add to HEG’s already sophisticated offering, allowing us to continue to help businesses make the most of their online potential.”
Oakley Capital acquired a 51 percent stake in Intergenia in 2011.The company operates the PlusServer, serverloft and SERVER4YOU hosting brands. It also owns the hosting conference WorldHostingDays.
We are enormously proud to join forces with HEG,” Thomas Strohe, CEO of intergenia said in a statement. “There is a clear synergy between our two combined businesses and we are excited to move into this new era. Being part of HEG will let us do even more for our customers and help us to expand our already successful business. I wish to thank all the employees at intergenia for their enormous contributions, and look forward to a bright future together.”
On Wednesday morning, Oakley Capital’s shares were up 0.91 percent with a share price of 152.25.
This article originally appeared at: http://www.thewhir.com/web-hosting-news/host-europe-group-acquires-intergenia-holding