Jacksonville-based Newfold Digital agreed to acquire a subsidiary of Clarivate Plc for $302.5 million in cash, publicly traded Clarivate announced Sept. 12.
The subsidiary called MarkMonitor provides internet domain management services.
Newfold, which provides website development services for businesses, was created by the 2021 merger of Web.com and Endurance Web Presence.
“As web presence needs continue to grow and evolve, domain management and protection is becoming more important,” Newfold CEO Sharon Rowlands said in Clarivate’s news release.
“MarkMonitor is well-known for its expertise in serving the domain portfolio needs of some of the most sophisticated digital companies in the world, making it a natural fit for our family of web technology brands,” she said.
MarkMonitor is expected to produce $80 million in revenue this year, London-based Clarivate said.
Privately owned Newfold does not disclose its financial results.
The deal is expected to close late in 2022.