Oversee.net Sells Internet Businesses to European FirmWednesday, February 8, 2012
Oversee.net, a Los Angeles domain name and online marketing firm, has sold two of its non-core units to KeyDrive S.A., a Luxembourg Internet company.
KeyDrive, which did not disclose terms of the deal, said the acquisition of Moniker and SnapNames fit its global expansion strategy and will provide European clients with better access to U.S. buyers and sellers of domain names. The Wasserbillig company provides domain registration, monetization and aftermarket services.
Privately held Oversee acquired Moniker in January 2008 and SnapNames in June 2007. Moniker was a pioneer in the live domain name auction business, and SnapNames operates what is considered the largest auction of expired and deleting domain names.
“The sale of these assets allows us to focus more on our core monetization and vertical markets divisions, which are the fundamental building blocks of our global performance marketing network,” said Debra Domeyer, co-chief executive of Oversee.