Go Daddy Sold to Investment Firms for Reported $2.25 Billion

The Go Daddy Group, the world's leading provider of Web hosting and domain names, announced on Friday that it has signed a partnership with investment firms KKR, Silver Lake and Technology Crossover Ventures. Financial details of the transaction were not disclosed, although some reports estimate the Scottsdale, Ariz.-based firm was sold for about $2.25 billion.

"I've always said we would make a move like this when the right deal with the right partners could help us do the right thing for our customers and our employees. This is it!" Bob Parsons, Go Daddy's founder and CEO and member of the AOL Small Business Board of Directors, said in a statement. "We are partnering with KKR, Silver Lake and TCV because of their technology expertise, their understanding of Web-based businesses and because their values align with ours. We believe, together, we will take the company to the next level, especially when it comes to accelerating international growth."

According to insiders, Parsons will remain Go Daddy's largest single shareholder and chief executive, and will continue to be closely involved with the company.

Greg Mondre, managing director of Silver Lake, said Go Daddy was "powerfully positioned for future growth as it continues to innovate and add to its truly unique platform of cloud-based software and services."

Herald Chen, head of KKR's software and Internet effort, echoed the aim to "expand the current portfolio of products and services" internationally, while Will Griffith, general partner at minority investor TCV, said the company was excited to "contribute to [Go Daddy's] continued success."

Go Daddy boasts more than 9.3 million customers and manages over 48 million domain names. Founded by Parsons in 1997, the company reported sales of $1.1 billion in its most recent fiscal year.