CentralNic Group - Consolidating a growth market

CentralNic (CNIC) is executing on its strategy to build a global domain name and web services provider, acting as a consolidator in a fragmented market. Its key focus is expanding in emerging markets, where internet penetration is lower than in developed economies and the growth rates are higher. The company has spent £41.7m on acquisitions in FY16–18, and a further US$28.9m so far in FY19 (note the company’s reporting currency changed from pounds sterling to US dollars in FY19). Management is confident of ongoing organic revenue growth and highlights a strong pipeline of potential future M&A deals.