10|01|2009 3:09 pm EDT
Dark Blue Sea Acquires Australian Drop Catcher
In a Dark Blue Sea press release, the parent company of Fabulous.com announced the acquisition of an Australian Domain Name Business — enabling the company to become an Australian domain name reseller and generate revenues in AU dollars to help combat the current exchange rate.
“The acquisition will provide a source of A$ revenue which provides a natural hedge on part of Dark Blue Sea’s currency exposure,” the release said. “Currently the majority of Dark Blue Sea’s revenue and cost of goods sold is denominated in US$ with the majority of overheads denominated in A$.”
The acquisition positions Dark Blue Sea at the forefront of the emerging Australian domain market.
[via Dark Blue Sea]
Update: According to The Australian, the specific registrar was Domain8.com.au.
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3 Comments
Dot Investing
October 1, 2009 @ 7:07 pm EDT
I wonder why there is no mention as to what company it’s acquiring. Another interesting aspect of the deal is that it appears to be an all stock deal, which seems highly favorable to DBS. “The company will issue 2 million ordinary fully paid shares by way of initial consideration to the vendors.”
Adam Strong
October 1, 2009 @ 10:06 pm EDT
Dot Investing we followed up with DBS about the missing company name and they declined to release the info at this time. The information should be released soon enough I suppose.
Chad Kettner
October 5, 2009 @ 9:52 am EDT
Update: According to The Australian, the specific registrar was Domain8.com.au.