Home / News

Rightside Rejects Donuts’ Unsolicited $70 Million Proposal, Says Undervalues Business

Rightside board of directors rejects Donuts’ unsolicited proposal: In an announcement released this morning, Rigtside said its Board of Directors has rejected the unsolicited proposal from Donuts Inc. to acquire Rightside’s entire registry of generic top-level domains (gTLDs) and related assets for $70 million in an all-cash deal.

Taryn Naidu, CEO of Rightside: “After thoughtful evaluation, Rightside’s Board has determined that Donuts’ proposal significantly undervalues Rightside’s Registry assets. ... We believe Donuts’ proposal is an opportunistic attempt to acquire Rightside’s valuable portfolio of domain extensions with an undervalued price and in a manner that would not be in the best interests of Rightside shareholders.”

No further discussion warranted: Rightside also sent a letter to Donuts saying it doesn’t believe any further discussion is warranted on this proposal. http://bit.ly/29tRMy2

“Rightside has rebuffed Donuts’ semi-hostile takeover attempt for its portfolio of gTLD registry contracts,” Kevin Murphy reporting in Domain Incite: “Activist investor J Carlo Cannell and Uniregistry CEO Frank Schilling, both of whom own small but significant chunks of Rightside, have called on the company to get rid of some of its under-performers. By announcing the offer publicly—apparently after months of private offers—Donuts might have been trying to capitalize on this unrest.”

By CircleID Reporter

CircleID’s internal staff reporting on news tips and developing stories. Do you have information the professional Internet community should be aware of? Contact us.

Visit Page

Filed Under

Comments

Comment Title:

  Notify me of follow-up comments

We encourage you to post comments and engage in discussions that advance this post through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can report it using the link at the end of each comment. Views expressed in the comments do not represent those of CircleID. For more information on our comment policy, see Codes of Conduct.

CircleID Newsletter The Weekly Wrap

More and more professionals are choosing to publish critical posts on CircleID from all corners of the Internet industry. If you find it hard to keep up daily, consider subscribing to our weekly digest. We will provide you a convenient summary report once a week sent directly to your inbox. It's a quick and easy read.

I make a point of reading CircleID. There is no getting around the utility of knowing what thoughtful people are thinking and saying about our industry.

VINTON CERF
Co-designer of the TCP/IP Protocols & the Architecture of the Internet

Related

Topics

Brand Protection

Sponsored byCSC

Domain Names

Sponsored byVerisign

DNS

Sponsored byDNIB.com

Cybersecurity

Sponsored byVerisign

IPv4 Markets

Sponsored byIPv4.Global

New TLDs

Sponsored byRadix

Threat Intelligence

Sponsored byWhoisXML API