Today, Rightside announced that it has signed a definitive agreement to sell its Enom business to Tucows Inc. (Nasdaq: TCX). Rightside will continue to operate its Rightside Registry and Name.com registrar businesses.
“The divestiture of Enom creates a stronger alignment between Rightside’s vision, strategy and financial profile and we believe this is the best way to increase shareholder value,” said Chief Executive Officer Taryn Naidu. “The market for new gTLDs is rapidly developing and the divestiture enables us to more intensely focus on our higher growth and higher margin businesses, where our Name.com and Registry businesses are leading the way with the new top-level domains.”
The transaction is expected to close later today. For more information, please see the official press release.