Hg completes acquisition of Italian online hosting provider DADA – Hg (HGT) is a private equity firm targeting middle-market buyouts primarily in Europe. Hg focuses on investments in technology, services and industrial technology sectors.
Hg has completed its investment in DADA S.p.A (DADA), a leading provider of online hosting services to SMEs in Italy, the UK and other regions across Europe. The company will invest approximately £7.1 million in DADA, with other institutional clients of Hg investing alongside the Company through the Australia-based Mercury 2 Fund.
The process follows an initial investment for a majority stake of 69.432% in DADA, made by Hg’s technology team in October 2017 and acquired from a subsidiary of Orascom TMT Investments.
Hg has now successfully completed a tender offer on the remaining ordinary shares and will complete a public-to-private transaction of DADA from the Italian Stock Exchange.
DADA S.p.A
Founded in 1995, DADA is headquartered in Florence and has around 650,000 business and consumer customers across Europe. DADA’s digital services enable SMEs to administer their online presence: creating, managing and hosting domains and websites. As well as operating in Italy under the Register.it brand, DADA also operates in the UK, Ireland, Spain, France, Portugal and the Netherlands under the Namesco, Register365, Nominalia and Amen brands, respectively.
HGT : Hg completes acquisition of Italian online hosting provider DADA