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Deal 5: Internet Corporated Networks CEO Julian Borislavov on Sale of Business

Deal 5: Internet Corporated Networks CEO Julian Borislavov on Sale of Business

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On June 23, 2021, CEE Legal Matters reported that DGKV had advised Internet Corporated Networks on the sale of its hosting and domain business to Superhosting.bg. CEE In-House Matters spoke with Julian Borislavov, CEO and Co-Founder of ICN to learn more about the deal.

CEEIHM: To begin with, tell us a bit about ICN.

Julian: ICN was started back in 2004. After coming back from the US I started a few digital projects, and I become frustrated with low-quality hosting services. I decided to give it a shot. My brother and partner is the nerd behind ICN. He was 16 back then. After a couple of years, we become the best local hosting provider according to PC World magazine. After fast growth, we became the second biggest hosting provider in Bulgaria. For almost 17 years we were fanatics when it comes to providing the best customer experience and support, high-quality hosting, and cloud services. In April 2021 the European group Team.Blue acquired our assets and merged them with its previous acquisition from 2020.

CEEIHM: Your company recently sold its hosting and domain business to Superhosting.bg. In your opinion, what made your business attractive to the buyer?

Julian: During the past few years, we were constantly approached by many big players. Team.Blue Hosting Group acquired our main competitor Superhosting.Bg in 2020. Meanwhile, we were in negotiations with another acquirer who was attracted by our professional knowledge, in-house products, and first-class customer service. Later in 2020, we had a chance to meet with TB and gain a deeper understanding of their vision in developing the local markets in the Balkans. Then we stepped in.

CEEIHM: How will your company invest the proceeds from the sale?

Julian: During the years we created a couple of other businesses we will follow them carefully the next months to see which has the larger protentional to grow. Meanwhile, we become Investors in a couple of startup venture local funds.

CEEIHM: What was DGKV’s mandate on the deal?

Julian: DGKV took on the legal support of the deal from the very beginning. They were active on all phases of the deal and completed the transaction as smoothly as possible.

CEEIHM: Why did you choose DGKV as your advisor?

Julian: We choose DGKV because of their professional skills as a team. We carried out some research on the early stages of the transaction and we got many recommendations for them.

Bulgaria Knowledge Partner

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 15 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

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