01|18|2011 11:37 am EDT
Apparently, the news is not just that James Tuplin, the Director of Operations, in the UK is leaving NameDrive, as The Domains reports, but there’s bigger things happening. The first hint at this came from a rumor posted on Facing The Absurd in October 2010 during DOMAINfest Prague stating that KeySystems is buying NameDrive. Back then, when DNN contact the involved parties about, they unofficially confirmed they were talking, but it looked like there was no deal in sight.
Things may have changed. As DVMag reports (in German), NameDrive has now relocated from Cologne to Luxembourg, as per the company’s website.
DVmag goes on to say that the people that continue to work for the company have already been working in Luxemburg. Another interesting note is the new General Manager of the company, Michael Riedl.
According to his profile on the companies’ website, Michael Riedl has been the “Investment Director” and “Secretary of the Investment Committee” at BIP Investment Partners since 2008. NameDrive apparently has become part of the BIP Investment Partners portfolio. He’s also part of the board of Key-Systems and was one of the speakers at the Meet Domainers event in Poland held in August 2010. BIP has invested in EuroDNS, Key-Systems and Domaininvest amongst other companies, such as the broadcaster RTL group, where BIP holds an investment of 58 million € and 9.4 million € in Shell.
- Key-Systems: 6.8 million € for a share of 33.33%, placing the company value at 20 million € at the time of the investment.
- EuroDNS S.A. 6.4 million € for a share of 20%, placing the company value at 32 million € at the time of the investment.
- DI S.A. (formerly known as Domain Invest): 2.5 million € for a share of 9.91%, placing the company value at 27 million € at the time of the investment.
BIP is publicly traded at the Luxembourg Stock Exchange and recently saw its price increase from 50 € to over 60 €.
The restructuring of NameDrive is a great chance to further expand our presence in the
global domain name market. BIP’s recent investment secures the financial means to
realize new innovative products and services and in turn achieving an even broader presence.
The international domain parking provider NameDrive is now composed of the main Corporate office, NameDrive S.A. (Luxembourg) and three subsidiary offices: NameDrive EU SARL (Luxembourg), NameDrive SRL (Romania) and NameDrive LLC (USA). While the offices in Luxembourg and the USA are primarily responsible for the day to day operational business, NameDrive SRL (Romania) is in charge of technical development. The Cologne subsidiary has now been merged into NameDrive EU SARL with the entire team relocating to Luxembourg.
Starting with the next parking payout, payouts will be sent from the NameDrive SARL’s Luxembourg bank account. The currency for all payouts will remain in USD, and any banking fees are, as usual, covered by NameDrive.
Those who defer parking payments will have credit descriptions listed within the “Payments” section of their NameDrive account next week. NameDrive‘s new address and tax code will be associated with your credits at this time.
For our clients the day to day business of NameDrive remains the same and the only notable difference for you, the client, will be the origin of the parking payouts. NameDrive remains committed to providing you with the same excellent services and now, with our new financial backing, we are excited about making NameDrive even better.
If you have any further questions, please do not hesitate to contact us at email@example.com