Miss Group acquires Lithuanian web hosting company UAB “Interneto vizija”
Web hosting business, Miss Group, has acquired 100 per cent of UAB “Interneto vizija”, headquartered in Vilnius in Lithuania, including its subsidiary company UAB “Rakrėjus".
Founded in 2003, UAB “Interneto vizija” (IV) is a web hosting business with around 68,000 customers, and with 170,000 registered domains accounting for 60 per cent of all registered domains in Lithuania. Through its subsidiary company, UAB “Rakrėjus” (www.rackray.com), IV also runs a Tier III data centre based in Vilnius.
Alongside its core shared web hosting and data centre offerings, IV provides services including website development, e-mail, domain names, VPS servers and SSL certificates. The combined web hosting and data centre businesses have reported excellent growth in recent years, with FY2020 revenue forecast at EUR11.5 million and EBITDA margins in excess of 50 per cent.
In February 2020, Perwyn acquired a majority position in Miss Group to support the growth ambitions of the business through international expansion and ongoing M&A. This deal is the second acquisition to be completed under Perwyn ownership and the eleventh acquisition for Miss Group in the past two years.
Mattias Kaneteg, Miss Group founder and CEO, says: “This transaction provides a great platform for expansion across the Baltic region. IV is an excellent business and we are looking forward to growing both the shared web hosting and data centre divisions and delivering new value-added solutions to our customer base in Lithuania. I am delighted to be welcoming IV to the Miss Group family and we look forward to working with our new colleagues to develop and grow the business.”
Arvydas Štrausas, IV founder and CEO, says: “We are proud of what IV has achieved so far and we trust the new owners will bring new possibilities to the growth of the business.”