Oversee.net Completes Acquisition of SnapNames

June 15, 2007; 07:11 AM
Oversee.net, a leading technology-driven online marketing solutions company, announced today that it has completed the acquisition of SnapNames, the operator of the largest available source of expired and deleting domain names.

The combination of Oversee.net and SnapNames creates one of the most powerful domain name companies in the marketplace today. Oversee’s robust technology platform, strong customer base, and financial resources will bring added value to SnapNames. Oversee has a portfolio of some 600,000 names and DomainSponsor monetizes more than 2.0 million domains for third parties. This year, up to 10 million previously registered domain names will pass through SnapNames' auctions.

In commenting on the close of the transaction, Lawrence Ng, Co-Founder and Chief Executive Officer of Oversee, said, “The domain industry continues to grow at a rapid pace. Oversee.net and SnapNames are in a leadership position and will leverage the potential of the combined companies. Together, we will build on our core capabilities to enhance services for the domain community.”

SnapNames’ Chief Executive Officer Sudhir Bhagwan, along with SnapNames’ senior management team, will continue to operate the company as a stand-alone business from its headquarters in Portland, Oregon.

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 200 employees and was recently named “Internet and New Media Company of the Year” by the Technology Council of Southern California. Some of Oversee’s key brands include SnapNames, the operator of the largest available source of expired and deleting domain names; DomainSponsor, a global leader in domain monetization; and Low.com, a top consumer financial services portal. Oversee has been growing profitably since inception. To learn more, please visit http://www.oversee.net.

Oversee.net, Corinne Forti, 805-368-8665 (cell), [email protected]