Oversee.net to Acquire SnapNames

June 2, 2007; 02:43 AM

Oversee.net, a leading technology-driven online marketing solutions company, and SnapNames, the operator of the largest available source of expired and deleting domain names, have signed a definitive agreement under which Oversee will acquire SnapNames. Terms of the acquisition are confidential. The acquisition is expected to close mid-June.

SnapNames was formed in 2000 to provide the first commercially available technology for pre-ordering a currently registered domain name. About 25% of currently registered domain names — now more than 120 million worldwide — expire and become available each year. SnapNames estimates that more than 10 million of those highly valuable domain names will be offered through its platform in 2007 alone.

Sudhir Bhagwan, SnapNames’ Chairman of the Board and Chief Executive Officer, stated, “This transaction is a combination of two industry leaders with outstanding reputations for serving domain name customers at all levels. Our customers, partners and employees will benefit from this alignment with a leader in domain services. Having access to Oversee’s strong customer base, technology platform and financial resources will be of great value to us.”

Bhagwan and SnapNames’ senior management will continue to run the company. Its headquarters will remain in Portland, Oregon.

“SnapNames is a great company and we are delighted that they are becoming part of the Oversee family,” said Lawrence Ng, Co-Founder and Chief Executive Officer of Oversee. “SnapNames’ established position as a leader in the secondary market for domains is an important enhancement to Oversee’s capabilities in domain services. They have a deep understanding of the business. We believe that this acquisition will enhance the services we provide to the domain-owner community, supporting the entire life cycle of domain name procurement, monetization and sales.”

About Oversee.net

Founded in 2000, Oversee.net is a technology-driven online marketing solutions company whose core businesses are domain services and online marketing services. Headquartered in Los Angeles, the Company has over 160 employees and was recently named “Internet and New Media Company of the Year” by the Technology Council of Southern California. Oversee has been growing profitably since inception. To learn more, please visit http://www.oversee.net.

About SnapNames

Founded in 2000, SnapNames operates the largest available source of expired and deleting domain names. Partnering with the world’s largest and best-known registrars and service providers, SnapNames uses its patented and patent-pending technology to give its customers exclusive first access to thousands of high-traffic, brandable and investment-grade domain names every day. SnapNames is headquartered in Portland, Oregon. For more information visit http://www.SnapNames.com.