PERTH, Australia, June 22, 2017 /PRNewswire/ -- Dreamscape Networks Limited (ASX code: DN8) today announced its merger with Singapore's #1 web hosting company Vodien Internet Solutions Pte. Ltd (Vodien).
The merger, which went for a total consideration of AUD 29.67 million (SGD 31.16 million), will combine the infrastructure and operations of the two companies, as well as their trading entities and parent businesses.
Dreamscape Networks' Managing Director & CEO Mark Evans said:
"This is a strategic merger for Dreamscape Networks. The leadership team at Vodien Group has substantial knowledge of the local industry, with a strong track record of growth, and will be a great addition to our senior executive team. The culture they have developed and led is a perfect fit for us."
"By joining forces with this robust Asian hosting brand, we can leverage its current market position and strong customer awareness to immediately increase our footprint in the Southeast Asia region, without the need to establish our own Singapore hub infrastructure.
"We have a great opportunity to introduce existing customers of both organisations to additional add-on value products and services. This is an exciting development for investors, employees and customers of both organisations, and is consistent with our plan to invest in strategic opportunities that enhance our offer and accelerate growth," added Evans.
Vodien Group CEO Alvin Poh said:
"I am delighted that Vodien Group is becoming part of Dreamscape Networks. The two organisations have a very strong culture and business fit, and share a desire to become a leading internet domain and hosting business across Asia.
"I look forward to becoming part of the senior executive team of Dreamscape Networks and working with Mark and the team to deliver on the growth opportunities that we see."
In December 2016, Dreamscape Networks debuted on the Australian Securities Exchange (ASX) following a successful Prospectus offer that raised AUD 25 million.
At that time, the company also announced its intent of growing the company through international and domestic expansion via acquisitions, new product development, and entry into new markets.
The company has since announced the acquisition of Sydney-based internet hosting company, Net Logistics Pty Ltd for AUD 2.55 million.
The merger with Vodien is being financed through existing cash reserves of Dreamscape Networks.
About Dreamscape Networks Limited
Dreamscape Networks Limited is a leading online solutions provider of domain names, hosting and solutions and owns Australia's #1 domain brand Crazy Domains. The Dreamscape Networks Group offers simple, innovative and affordable online solutions that help businesses build and manage their online presence. Our solutions are innovative, user-friendly and engineered across all platforms embracing intuitive design and backed by our focus on best in world service.
Learn more at www.dreamscapenetworks.com and www.crazydomains.com.
About Vodien Internet Solutions Pte. Ltd.
Vodien Internet Solutions is a leading web hosting service provider in Asia, and offers premier access speeds to visitors in the region. It has clients from Singapore, Malaysia, Indonesia, Netherlands, Switzerland, the United Kingdom, and the United States.
Since its inception in 2002, it has serviced thousands of clients across different industries and consumer segments across the globe and have continually received accolades for our prompt, knowledgeable, and affordable service.
Learn more at www.vodien.com.
