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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Dealtalk: Google bid "pi" for Nortel patents and lost 01 Jul 2011 Venezuela gov't, army insist Chavez still in charge | 01 Jul 2011 Nearsightedness linked to serious eye disease 30 Jun 2011 Florida state workers get pink slips, more cuts ahead 01 Jul 2011 Analysis: Geithner may want to go; will Obama let him? 01 Jul 2011 Discussed 94 White House snubs McConnell invitation to Obama 81 U.S. cost of war at least $3.7 trillion and counting 69 Bachmann facing scrutiny as top-tier candidate Watched Hefner's revenge; Ryan Reynolds stops traffic Fri, Jun 17 2011 A Tokyo-Paris flight in under three hours on the horizon Fri, Jun 24 2011 Monaco's Prince Albert marries Fri, Jul 1 2011 KKR, Silver Lake to buy Go Daddy for $2.25 billion: sources Tweet Share this Email Print Related News Go Daddy in deal to be bought for $2.25 billion: source Fri, Jul 1 2011 Dealtalk: Private equity scours HP for cracks Thu, Jun 30 2011 Zynga IPO could raise $2 billion, file Wed: source Tue, Jun 28 2011 Special Report: A little house of secrets on the Great Plains Tue, Jun 28 2011 UPDATE 3-KKR hires Morgan Stanley strategist Henry McVey Fri, Jun 24 2011 Analysis & Opinion Deals wrap: Zynga files for IPO Real estate: Cash deals dominate some luxury markets Related Topics Technology » Deals » 2011 Q2 » Global Deals Review - Parent folder » Inflows Outflows » By Nadia Damouni NEW YORK | Fri Jul 1, 2011 10:51pm EDT NEW YORK (Reuters) - Web hosting company The Go Daddy Group Inc agreed to be bought by a private equity consortium led by KKR and Silver Lake for $2.25 billion, including debt, people close to the situation said on Friday. The decision to sell will give Go Daddy access to deep-pocketed backers to buy other firms and broaden its presence internationally, Go Daddy's founder Bob Parsons told Reuters in an interview. Parsons said using the private equity buyers knowledge of the public markets would eventually aid in the company's IPO should it take that path. The private equity buyers also include Technology Crossover Ventures. Go Daddy announced the deal but did not disclose the terms. The buyers were willing to finance the buyout with a larger equity portion than debt, Herald Chen, head of KKR's software and Internet effort told Reuters. "There is more equity than debt going into the deal because this is a growing company and a growth investment for the investment group, Chen said. Parsons and the company's board of directors decided to hire Frank Quattrone's Qatalyst Partners during the summer of last year after receiving numerous calls of interest from parties looking to buy the company. "We have talked to a number of firms and eventually we met the combination of KKR and Silver Lake and just absolutely was amazed what they brought to the table," Parsons said. Since founding the company in 1997, Parsons has seen Go Daddy grow into the world's largest Web hosting provider, serving more than 9.3 million global customers and managing more than 48 million domain names. Go Daddy has over 3,000 employees, with roughly 500 dedicated to product development. "Building on Go Daddy's exceptional customer service and loyal customer base, we believe there is significant opportunity to expand the current portfolio of products and services as well as accelerate growth internationally," Chen said in a company press release on Friday. Go Daddy filed to go public in 2006, but at the time was told that it would be required to take a 50 percent haircut -- a percentage that is subtracted from the par value of assets that are being used as collateral -- on its initial public offering. The company instead decided to pull its filing citing unfavorable market conditions, Parsons said. "We grew by 22 percent during the recession and our growth hasn't slowed," he said. Parsons, who is currently chief executive officer, will become executive chairman of Go Daddy, while current President and Chief Operating Officer Warren Adelman will move into the role of CEO, Parsons said. The deal is expected to close before the end of the year and requires regulatory approvals in several jurisdictions including Europe and the United States, Tony Ling a director of Silver Lake told Reuters. Barclays Capital, Deutsche Bank Securities Inc and RBC Capital Markets acted as financial advisors and, along with KKR Capital Markets, they or their affiliates provided financing commitments for the transaction. (Editing by Carol Bishopric and Yoko Nishikawa) Technology Deals 2011 Q2 Global Deals Review - Parent folder Inflows Outflows Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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