Domain registration and web hosting provider GoDaddy Inc. (NYSE:GDDY) yesterday announced the acquisition of Serbia based WordPress site management tool maker, ManageWP for an undisclosed amount.
ManageWP offers web professionals multi-site WordPress management capacity from a single dashboard. It also offers site monitoring, automated migration, publishing, deployment, client reporting, backups and security services.
Multi-Site WordPress Management Holds the Key
ManageWP‘s centralized dashboard is the main draw for the world’s largest managed WordPress provider. The acquisition will enable GoDaddy to provide a single destination for web professionals to manage their WordPress sites.
Multi-site WordPress management will now become a lot more hassle free as the new tool will remove the need to log in to each site’s dashboard separately.
Clients will get access to numerous websites globally and save more of their working time. The acquisition has also opened up opportunities for GoDaddy to integrate ManageWP’s services with its GoDaddy Pro program.
Seamless Integration
ManageWP has stated that it will run as an independent company under GoDaddy. The pricing model, feature sets and operating process will remain unchanged.
GoDaddy, on the other hand, stated that it will retain the entire ManageWP team following the acquisition. Some of ManageWP’s premium features will be offered for free.
Our Take
The acquisition makes sense as GoDaddy has been targeting massive growth of its core business and is trying to enter related fields.
The company’s diversification push is evident from some of its previous acquisitions. It acquired Outright in 2012 to add bookkeeping service to its portfolio. It later acquired Ronin to add invoicing to this service. In May this year, it bought FreedomVoice to offer cloud-based telephony services to small and medium-sized companies.
The new move seems to be a part of GoDaddy’s continuous efforts to invest in WordPress and boost its web design and development services.
Zacks Rank and Stocks to Consider
Currently, GoDaddy has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include Stamps.com Inc. (NASDAQ:STMP) , Facebook, Inc. (NASDAQ:FB) and LinkedIn Corporation (NYSE:LNKD) , each sporting a Zacks Rank #1 (Strong Buy).
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