Warburg Pincus-backed United Internet in €600m Strato deal

United Capital will wholly acquire Strato via an all-equity deal, which will see €566m paid on completion and up to a further €34m payable subject to performance.

Warburg Pincus invested fresh capital as part of the deal, which comes a month after the GP invested €450m for a 33% stake in United Internet's business application division. The firm is invested in the company via its WP XII Venture vehicle.

The deal forms part of United Internet's pan-European acquisitive strategy.

Company
Founded in 1997, Berlin-based Strato provides internet domains, email services, website packages, web hosting, servers and online storage. The company has operations in Germany and the Netherlands. It generates a turnover of €127m with EBITDA of €48.5m, according to a statement.

People
Warburg Pincus International – René Obermann (managing director).
United Internet – Ralph Dommermuth (CEO).
Strato – Christian Böing (CEO).

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• Topics
• Expansion
• Technology
• DACH
• Germany
• Warburg Pincus
• Build-up