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2006-08-21
Web Drive Makes 9th Acquisition
August 21, 2006 -- New-Zealand based Web hosting provider Web Drive (webdrive.co.nz) announced on Monday it has completed its ninth acquisition.
The company, headed by two 29-year-olds Daniel Williams and Steve Hogg, acquired the customers and assets of Web hosting provider Webbase (webbase.co.nz), adding a further 640 clients to its customer base. With the acquisition of Webbase, Web Drive is expecting revenues to exceed $1.5 million this year, having achieved a growth rate of over 150 percent in the last two years.
"We're very excited about the acquisition as it gives us an opportunity to establish a presence in the discount market through an existing brand," says Williams. "Our next major goals are expansion into the Australian market, and taking a bite of the lucrative software market with several new products aimed at global business customers."
With market share currently sitting at around five percent the company is looking to double this to 10 percent in the next 12 months through further acquisitions, expansion, and diversification.
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