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Internet hosting firm Endurance said to be mulling possible sale
INTERNET hosting company Endurance International Group Holdings Inc is considering strategic options, including a possible sale, according to people with knowledge of the matter.
The company has held talks with potential advisers about options after peer Web.com Group Inc was sold to Sirius Capital Group in June, said the people, who asked not to be identified because they weren't authorised to speak publicly.
Warburg Pincus and Goldman Sachs Group Inc, which took the company public in 2013, remain Endurance's largest shareholders, according to filings. A final decision hasn't been made and Endurance could elect to remain publicly traded. Representatives for Endurance, based in Burlington, Massachusetts, and Warburg Pincus and Goldman Sachs declined to comment.
Warburg Pincus and GS Capital Partners, the merchant banking arm of Goldman, agreed to buy a majority stake in Endurance from Accel-KKR in November 2011 for an undisclosed sum. The transaction was valued at US$975 million, a person familiar with it said at the time. The firms raised US$252 million from the initial public offering, at US$12 a share, below its initial US$400 million target.
The stock fell 0.5 per cent to US$9.60 in New York trading on Friday. BLOOMBERG