Web.com Completes Donweb.com Acquisition
JACKSONVILLE, Fla., Feb. 01, 2017 (GLOBE NEWSWIRE) -- Web.com Group, Inc. (Nasdaq:WEB), a leading provider of Internet services and online marketing solutions for small businesses, today announced that it has completed the acquisition of Donweb.com, a leading Latin American web hosting and domain registration company.
"The Latin American market is a strategic focus for us, and one where we have been building a presence thanks to our existing Web.com teams based in Argentina, Colombia, and Spain," said Web.com Chairman, CEO and President David Brown. "We found in Donweb.com a company whose employees truly understand the online marketing needs of Latin American small businesses, and we are excited to have them join the Web.com family."
Web.com has granted inducement awards to 85 newly hired employees under the Web.com Group, Inc. 2017 DonWeb Inducement Award Plan. The inducement awards consist of 25,000 options and 106,382 restricted share awards covering an aggregate of 131,382 shares of Web.com's common stock. The awards were granted effective January 31, 2017, and the options have a 10-year term and an exercise price equal to $18.95 per share, which was the closing price of Web.com's common stock on the date of grant. The option and restricted stock awards vest over the course of four years subject to the employee's continued service with Web.com on each vesting date. For options, 50% vest on the second anniversary of the grant date and the remaining shares vest monthly thereafter. For restricted shares, 25% vest annually on each anniversary of the grant date.
Web.com Group, Inc. (Nasdaq:WEB) a global provider of a full range of Internet services to small businesses to help them compete and succeed online. Web.com meets the needs of small businesses anywhere along their lifecycle with affordable, subscription-based solutions including domains, hosting, website design and management, search engine optimization, online marketing campaigns, local sales leads, social media, mobile products and eCommerce solutions. For more information, please visit www.web.com; follow Web.com on Twitter @webdotcom or on Facebook at facebook.com/web.com.
Note to Editors: Web.com is a registered trademark of Web.com Group, Inc.
Contacts Investors: Ira Berger 904-680-6909 Ira.Berger@web.com Media: Brian Wright 904-371-6856 Brian.Wright@web.com