Minds + Machines regroups after contract review

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  • Minds + Machines completes asset sale
  • Minds + Machines’ Toby Hall says first half has demonstrated robustness of its business model
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Quick facts: Minds + Machines Group Ltd

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Minds + Machines Group Ltd is the owner and operator of a world class portfolio of top-level domain assets (gTLDs).

As a sales and marketing led registry business, the company is focused on commercializing its portfolio in partnership with its expanding global network of distribution partners.

The MMX portfolio is currently focused around geographic domains (e.g. .london, .boston, .miami, .bayern), professional occupations (e.g. .law, .abogado, and .dds), consumer interests (e.g. .fashion, .wedding, .vip), lifestyle (e.g. .fit, .surf, .yoga), outdoor activities (e.g. .fishing, .garden, .horse) and generic names (e.g. .work and .casa).

11 Aug 2021

Minds + Machines Group Ltd said it has completed a sale of its top-level domains (TLDs) and related assets to an affiliate of US domain registry giant GoDaddy Inc following the signing of a purchase agreement in early April.

In a separate announcement on Wednesday, the AIM-listed firm said it has received US$113.8mln on completion of the sale, with a further US$13.3mln paid into escrow pursuant to the asset purchase agreement.

On completion, 25 of the firm’s 28 TLDs were transferred to GoDaddy’s affiliate, while final approvals for the transfer of the .miami and .boston TLDs remain pending. Following approval, these TLDs will transfer and a further US$1.4mln will be received by the company from escrow, with the reaming US$11.9mln to remain until March 31, 2022.

From January 1 2021 to August 10, MMX said it had continued to operate its TLDs and benefit from cost savings, adding that cash generated during the period had helped to increase its net assets beyond the cash received upon completion of the sale.

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15 Jul 2021

Minds + Machines Group PLC () said it received consent from the Internet Corporation for Assigned Names and Numbers (ICANN) to transfer four top-level domains (TLDs) and conditional consent to transfer 18 other TLDs owned and operated by the company to Registry Services, LLC, an affiliate of US domain registrar Inc ().

The AIM-listed firm said when it receives final approval from ICANN to transfer the 18 conditionally approved TLDs, the company will complete the transfer of all 22 TLDs to the registry.

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18 May 2021

Minds + Machines Group Ltd () reported steady profits for its 2020 financial year as the company highlighted changes in its fourth quarter that it believes have sustainably improved the business.

For the year ending December 31, the internet domain name registry reported a pre-tax profit of US$2.99mln compared with US$2.98mln in the prior year, while revenues stood at US$16.8mln compared with US$17.2mln in 2019.

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30 Jul 2020

Minds + Machines Group Limited’s () Toby Hall talks Proactive’s Polly Middlehurst through its first half trading. He says it’s been a strong period in which they’ve proved the resilience of the business to coronavirus and the robustness of its SaaS model. ”Key to demonstrating that SaaS model has been about growing our channel sales – we’ve seen tremendous uplift and that’s played out both in our renewals and new channel sales”.

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