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Web.com Stockholders Approve Issuance of Shares to Acquire Network Solutions

October 26, 2011 by  

Web HostingJACKSONVILLE, FL – The stockholders of Web.com Group, Inc. (Nasdaq:WWWW), a leading provider of internet services and online marketing solutions for small businesses, today voted to approve the issuance of 18 million shares of Web.com common stock to NetSol Holdings LLC, a Delaware limited liability company (the “Seller”), in connection with the previously announced agreement to acquire Network Solutions. More than 83.2 percent of the 29.3 million shares of stock outstanding as of the September 12, 2011 record date were represented in the voting, and of those voting, 99.6 percent of those voted in the affirmative for the proposal.

“The overwhelming affirmation of this transaction by our stockholders brings us one step closer to creating a more powerful internet solutions company for small- and medium-sized businesses,” said David Brown, chairman and chief executive officer. “With a combined company serving nearly three million customers with best-in-class products and services focused on this critical market, we will be better positioned to deliver improved stockholder value as we grow our business, capitalize on cost synergies and expand our margins.”


Web.com will pay the Seller $405 million in cash and 18 million shares of Web.com common stock. In addition, Web.com will also refinance certain credit facilities of Network Solutions and pay certain expenses of Network Solutions relating to the transaction.

The acquisition is expected to close on Thursday, October 27, 2011. Web.com is scheduled to release its 3Q’11 financial results and provide more details regarding the financial outlook of the combined company after the U.S. financial markets close on Thursday, November 3, 2011. More information can be found at http://ir.web.com.

About Web.com
Web.com Group, Inc. (Nasdaq:WWWW) is a leading provider of internet services and online marketing solutions for small businesses. Web.com meets the needs of small businesses anywhere along their lifecycle by offering a full range of online services and support, including domain name registration services, website design, logo design, search engine optimization, search engine marketing and local sales leads, general contractor leads, franchise and homeowner association websites, shopping cart software, eCommerce web site design and call center services. For more information on the company, please visit www.web.com/ or call 1-800-GETSITE.

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