Minds and Machines Gets ICANN Approval, Completes ICM Registry Acquisition

Minds and Machines Gets ICANN Approval, Completes ICM Registry Acquisition

SANTA MONICA, Calif. — Minds and Machines Group Ltd. said in a regulatory filing today that it received approval from ICANN and has completed its purchase of ICM Registry, which operates the registry for the .xxx, .porn, .sex and .adult gTLDs.

Minds and Machines, a publicly traded company on the London Stock Exchange, provides registry services for about 100 niche gTLDs. It signed a purchase agreement with ICM Registry in early May.

With the ICM Registry acquisition, Minds and Machines paid $10 million in cash and issued 225 million new ordinary shares for the company.

For the 12 months ending Dec. 31, ICM Registry reported net sales of $7.27 million and net income of $3.5 million, from about 100,000 registrations, according to the regulatory filing.

In 2017, approximately 78 percent of revenue was renewal based and approximately 14 percent was generated from premium sales, the filing said.

In a statement, Toby Hall, CEO of Minds and Machines, said: "Our strategy is to a build a strong, annuity-based business founded on recurring revenues that will allow us to scale through a combination of acquisition, innovation and organic growth.”

“The ICM acquisition accelerates the significant progress already made from our existing portfolio and firmly positions us as one of the leading operators in our sector,” he said. “Not only will ICM deliver scale, strong recurring revenues and positive working capital; it also provides us with more geographical diversification, as their revenues are primarily derived from the U.S. and Europe.”

Copyright © 2024 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

AEBN Celebrates 25th Anniversary

The Adult Entertainment Broadcast Network (AEBN) is celebrating its 25th year in business this week.

Nebraska Legislature Passes Republican's Age Verification Bill With No Votes Against It

Nebraska’s unicameral legislature has passed the state’s version of the age verification bills being sponsored around the country by anti-porn religious conservative activists.

Performers in Meta Blacklisting Lawsuit Seek to Preserve Antitrust Claims

Adult Performance Artists Guild board officers Alana Evans, Kelly Pierce and Ruby have informed a California court that, although they want to drop their lawsuit claiming that Meta conspired with OnlyFans to blacklist rival premium fan platforms’ talent, they may still have antitrust claims that they may pursue in the future.

FSC, Co-Plaintiffs to Ask US Supreme Court to Review Constitutionality of Texas Age Verification Law

Free Speech Coalition (FSC) and its co-plaintiffs in the challenge to Texas’ controversial age verification law have filed a petition before the United States Court of Appeals for the 5th Circuit asking to stay its recent upholding the law because they intend to appeal to the U.S. Supreme Court to review the law’s constitutionality.

FSC Vows to Fight Florida Age Verification Law

Free Speech Coalition (FSC) issued a statement vowing to continue fighting Florida’s age verification law, which was signed by Gov. Ron DeSantis on Monday as part of a comprehensive bill targeting minors’ use of social media.

Kansas Republican Aims to Create New Bureaucracy to 'Investigate' Porn Websites

Republican state legislators succeeded Monday in moving forward Kansas’ version of the age verification bills being sponsored around the country by anti-porn religious conservative activists, despite serious concerns raised by House Democrats about the cost of establishing a new bureaucracy tasked with investigating websites for pornographic content.

SK Intertainment Launches 'Skinfluential Management' Agency, FansFuel Joint Venture

Mr. Skin/Mr. Man parent company SK Intertainment has launched new creator agency Skinfluential Management, as well as a new joint venture with Showbizz Media's creator stats and affiliate marketing platform, FansFuel.

Industry Attorney, Free Speech Champion Clyde DeWitt Passes Away at 75

Noted industry attorney Clyde DeWitt passed away on Friday in Las Vegas at 75, according to friends and colleagues.

APClips Names Avery Jane 'Creator of the Month'

APClips has named Avery Jane its Creator of the Month for March.

JustFor.fans Offers Gumroad Users Platform to Sell NSFW Artwork

JustFor.fans (JFF) is offering Gumroad users a platform to sell NSFW artwork after the latter banned adult content.

Show More