Rightside: No domain deal
Domain name system specialist Rightside has turned down a passive-aggressive offer to buy its top-level domains for $70m. The proposed deal "significantly undervalues Rightside's Registry assets," according to its CEO Taryn Naidu.
What's more, the proposal was "an opportunistic attempt to acquire Rightside's valuable portfolio of domain extensions with an undervalued price and in a manner that would not be in the best interests of Rightside shareholders."
Last week, competitor Donuts tried to go over Naidu's head and appeal directly to Board members/shareholders by claiming it was able to "unlock substantial value" in the Rightside by splitting off its registry arm (the internet extensions) from its registrar arm (companies that sell names under those extensions).
Donuts complained that its offers had been repeatedly rebuffed by Naidu and implied that he was not carrying out his fiduciary duty by not taking the offer to his board. Well, now he has, and the answer was no. ®