Web.com will no longer be traded on the NASDAQ exchange now that an affiliate of Siris Capital Group has completed its approximately $2 billion acquisition of the Jacksonville-based global provider of internet services.
“We appreciate Siris’ conviction in the quality of Web.com’s people and products,” said Web.com CEO and President David L. Brown in a Thursday news release. “We look forward to Web.com’s next phase of evolution and growth as a private company.”
The move to take Web.com private comes as the company builds a new headquarters at 5379 Gate Parkway on the Southside. It’s expected to open by the spring of 2019.
“As a private company, Web.com will be able to make strategic investments for sustainable and profitable growth, while remaining agile and focused on delivering best-in-class solutions to its customers,” said Frank Baker, co-founder of Siris Capital, in June when the acquisition was announced.
According to its 2016 annual report, Web.com has approximately 3.5 million customers. As of November 2017, Web.com had nearly 1,000 employees in Jacksonville and nearly 3,800 employees worldwide.
The company is perhaps best known for its sponsorship of the Web.com Tour, a PGA golf tournament.
Web.com got its start as Website Pros in 1997. In 2008 it acquired Atlanta’s Web.com and assumed that company’s name.
Bill Bortzfield can be reached at bbortzfield@wjct.org, 904-358-6349 or on Twitter at @BortzInJax.
