Seems Web.com is going to save themselfs some cash with the recent take over.
Or they just want to increase the shares some more
The incremental cost savings will come from cutting senior manager posts, including Network Solutions’ chief executive, and consolidating data centers and applications, Web.com Chairman and Chief Executive David Brown said in a telephone interview.
Web.com, valued at around $500 million, said in August it was buying privately-held marketing and domain name company Network Solutions in a cash and stock deal worth $560 million.
“There is significantly more overlap than we originally estimated, and so it’s likely going to be more headcount reduction,” Brown said, noting overlaps in marketing, systems and development, and engineering.
Read more here.
- Top 5 Data Center Stories: Week of August 6th (datacenterknowledge.com)
- 5 of Last Week’s Biggest Winners (fool.com)
- Network Solutions Offers (mybloggingsite.wordpress.com)