The world's largest web-hosting company announced it has signed an agreement to sell-off a division it owns in Germany.
About $456 million will be paid to Scottsdale-based GoDaddy for the sale of the PlusServer business segment to buyer, BC Partners. GoDaddy says it plans to use the proceeds of the sale to pay off a bridge loan.
GoDaddy had acquired PlusServer as part of its recent purchase of Host Europe Group. That cost about $2 billion. It said at the time it would explore further options for PlusServer, including a possible sale.
PlusServer is based in Germany and has approximately 300 employees. The deal is expected to close by the end of August.
