Web.com Stock Rises on Reports of Buyout Talks
Internet services provider Web.com (WEB) - Get Report shares were up more than 6% on early Friday afternoon following a Reuters report that the company was in buyout talks with private equity firms.
Web.com is reportedly engaged in early-stage talks in response to multiple leveraged buyout approaches. The company has a market cap of $1.1 billion and generated $710.5 million in revenue in 2016 after reporting revenue of $543.5 million in 2015.
GoDaddy (GDDY) - Get Report , one of Web.com's biggest rivals, has also reportedly been seeking a buyout partner since its initial public offering in 2015.
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