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SnapNames snapped up by Oversee.net

By on June 1, 2007

Yesterday afternoon I received an email from SnapNames, the industry leader in domain auctions with some big news. Oversee.net has placed the high bid to purchase the SnapNames company. You may know Oversee.net better as DomainSponsor.com. DomainSponsor is a leader in Domain Monetization.

Here is the letter from Sudhir Bhagwan, CEO of SnapNames:

I’m writing to inform you that SnapNames has agreed to be acquired by Oversee.net. Oversee, a company already familiar to many in the domain name industry, is a technology-driven online marketing solutions company that offers an impressive array of services to domain name owners. You can learn more about the company at www.oversee.net.

It’s important that you understand there will be no changes to the way SnapNames provides its services. This is a combination of two industry leaders with outstanding reputations for serving domain name investors and customers at all levels.

We were attracted to Oversee for many reasons, including the opportunity to offer SnapNames customers a greater breadth of service offerings. Together, the two companies can provide services that support our customers’ needs throughout the entire life cycle of a domain name, including procurement, monetization and sales.

This transaction is expected to close in mid-June. There is more information available on our Web site.

Frank Schilling estimates the sale to be $25 million and Jay Westerdall of DomainTools Blog says he believes the price tag is upwards of $50 million.

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About Mark Fulton

Mark is the Founder of DotSauce Magazine and a full time web developer, domain investor, SEO and online marketing professional residing in North Carolina, USA. Visit MarkFulton.com for information on freelance website development, SEO and consultation services.