For Immediate Release
Oak Hill Capital Partners invests in marketing solutions provider
Los Angeles, CA and Menlo Park, CA. January 15, 2008 – Oversee.net, an online marketing solutions provider, announced today that it has executed a definitive agreement with Oak Hill Capital Partners, a private equity firm, for an investment of $150 million in Oversee.net’s holding company. Specific terms of the transactions were not disclosed.
According to Oversee, the funds will be used to augment organic growth and acquire technologies that will enhance its suite of services in the online marketing and domain name industries. Oversee’s DomainSponsor™ platform, a leader in monetization for domain owners, will continue investing in core technologies to provide a greater range of options for maximizing the value of domain traffic. In 2007, Oversee moved assertively to build its domain name auction and related services capability, in part through the acquisitions of SnapNames and Moniker®. The company will continue to evaluate acquisitions that extend its overall capabilities.
“Oak Hill understands that the online marketing, traffic and domain name sectors are rapidly growing, and they share our vision for establishing Oversee as a leading, trusted partner for domain owners and advertisers” said Oversee.net co-founder and CEO Lawrence Ng. “Their commitment and support will add fuel for organic growth and will help us capitalize on opportunities to broaden our capabilities.”
Robert Morse, a Partner at Oak Hill Capital Partners, added, “Oversee is an innovative company which we believe is well positioned for growth over the coming years. We’re looking forward to working with Lawrence and his talented team as they play a leadership role in this dynamic industry.”
The transaction is expected to close by the end of January 2008.About Oversee.net
Founded in 2000, Oversee.net is a technology-driven online marketing solutions company, with two primary divisions — Oversee Domain Services and Oversee Marketing Services. Headquartered in Los Angeles with offices in Portland, Oregon, San Mateo, California, and Pompano Beach, Florida, the company has over 200 employees. Some of Oversee’s key brands include SnapNames®, DomainSponsor™, Moniker® and Low.com™. Oversee has been growing profitably since inception.
Oversee was named to the Inc. 500 and ranked third in the Deloitte Technology Fast 50 of Los Angeles and 18th in the nation. Oversee was also named “Internet and New Media Company of the Year” by the Technology Council of Southern California and its CEO and Co-Founder, Lawrence Ng, was named a winner of the 2007 Ernst & Young Entrepreneur of the Year award for the Greater Los Angeles program in the technology category. To learn more, please visitwww.oversee.net.