.Co acquisition helps boost revenue at Neustar.
Neustar reported third quarter earnings after the bell today.
The company, which operates .us, .biz and .co, reported a 7% lift in revenue and a 1% increase in net income compared to the third quarter of 2013.
A big growth driver was the addition of .Co, which the company acquired in March. .Co added $4.4 million to the revenue line during the third quarter.
Neustar originally reported the purchase price of .Co as $109 million. It has since increased that for accounting purposes to $115.1 million based on working capital accounts at the time of acquisition; this is still a preliminary number. The deal also included a performance bonus of up to $6.0 million.
Jay Boucher says
Can they account for the $6 million increase in the purchase price? Their stockholders deserve to the truth about their ‘accounting’ …but they’re about to lose NPAC so that stock is going to go down pretty fast.
Andrew Allemann says
It just has to do with how much “cash” was on hand at closing.
converse2 says
Pretty sure there was already a market adjustment when the NANC recommended Telcordia. Even a current valuation w/o the NPAC doesn’t have the price that low