Dreamscape Networks Limited (ASX: DN8) has announced that it has entered into a binding agreement to acquire the entities and assets of the businesses operating as Web City, Enetica and Host1 (Enetica Group), for a total consideration of $4.457 million.
Enetica Group is a Sydney-based hosting and domain business. In 2002, Enetica became the first new fully accredited registrar following open tendering of the .au domain market. Enetica currently has approximately a 1.6% .au market share1. Enetica Group is being acquired from privately held Bucan Holdings Pty Ltd.
Commenting on the acquisition of Enetica Group, Dreamscape Networks’ Managing Director & CEO Mark Evans said:
“Bolting Enetica Group into Dreamscape Networks allows us to harness the capability inherent in our previous two acquisitions, Net Logistics and Vodien. We will utilise the upgraded Net Logistics technology platforms, while improving customer service and marketing capabilities by harnessing the Vodien brand to bring increased value to current Web City customers.
“By leveraging these capabilities we can increase our customer footprint in Australia and deliver an enhanced offering to the customers of Web City and Enetica, with the aim of growing returns for our shareholders. It is a small but great opportunity to improve the product mix for all our Australian customers and provides Dreamscape Networks with increased scale to release additional add-on value products to further improve customer engagement, Average Bookings Per User [ABPU], and the lifetime value of our customers.”
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