Web.com to acquire Dreamscape Networks Ltd.

The deal expands the Jacksonville-based company into Australia and Southeast Asia.

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  • | 7:31 a.m. July 24, 2019
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Jacksonville-based Web.com announced a deal Tuesday night to expand into Australia and Southeast Asia by acquiring Dreamscape Networks Ltd.

Australia-based Dreamscape and Web.com provide website services for businesses.

“Dreamscape provides a highly complementary set of offerings and, as a market leader, extends the Web.com global footprint across Australia, New Zealand and the high growth digital economies of Southeast Asia,” Web.com CEO Sharon Rowlands said in a news release.

Web.com is paying 0.27 Australian dollars per share in cash to buy Dreamscape, a publicly traded company with about 389 million shares outstanding.

That makes the value of the deal about 105 million Australian dollars, equal to about $73 million.

Web.com was acquired last year by affiliates of private equity firm Siris Capital Group.