Business Context and Reporting Period
This Form 8-K Current Report was filed by GoDaddy Inc. on July 15, 2017. The filing discloses the entry into a Material Definitive Agreement regarding the divestiture of a subsidiary business unit.
Key Financial Metrics and Transaction Details
The filing details a Share Purchase Agreement for the sale of all outstanding shares in PlusServer GmbH ("PlusServer"), an indirect subsidiary of GoDaddy. The transaction is valued at an enterprise value of EUR 397 million, which is approximately US $456 million. The purchase price is subject to certain adjustments as defined in the agreement. The filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity metrics for the company or the subsidiary.
Material Changes and Transaction Status
The primary material change is the agreement to sell PlusServer to Blitz 17-568 GmbH. The consummation of this transaction is contingent upon receiving necessary merger control approvals and/or clearances under the merger control rules of Germany and Austria. No other material financial changes or comparative period data are provided in this specific filing.
Guidance, Outlook, and Risks
The filing includes standard legal disclaimers noting that representations and warranties in the Share Purchase Agreement were made solely for the benefit of the contracting parties and may not reflect the actual state of facts or conditions of the businesses involved. Investors are cautioned that information may change after the agreement date. The filing does not contain specific management guidance, outlook, or commentary on future financial performance beyond the terms of this sale.
Key Facts for Investor Verification
- Transaction Value: Verify the final purchase price after adjustments to the EUR 397 million (approx. US $456 million) enterprise value.
- Regulatory Approval: Monitor the status of merger control approvals required in Germany and Austria for the deal to close.
- Divestiture Impact: Review future financial reports to assess the impact of removing PlusServer's financial results from GoDaddy's consolidated statements.
- Agreement Terms: Refer to Exhibit 2.1 for the full text of the Share Purchase Agreement, as the filing summary omits specific schedules and exhibits.