cPanel, the makes of control panel software used by many hosting providers across the globe, has announced it has signed an agreement to be acquired by Oakley Capital. Oakley Capital is a private equity investor that invests in companies primarily located in Western Europe.
Financial details of the impending acquisition have not been disclosed. Oakley Capital is the same investment firm that acquired Plesk in May of 2017. Plesk is also control panel software used to manage sites.
cPanel is based in Houston, TX with more than 220 employees. Employees will stay with the company and the headcount is expected to increase thanks to the investment.
Nick Koston, cPanel’s CEO, issued the following statement in a press release.
This investment reflects a great step forward for cPanel. Our team has developed software that contributes to the success of millions of websites operating globally and looks forward to continuing to do so with the same passion that you, our loyal customers have come to love.
This investment will give Internet infrastructure providers access to a wider range of software, features and support. I am excited about what the future holds for the company and the great team at cPanel.Nick Koston
Koston will remain as the company’s CEO and cPanel will continue to run as a separate entity. The acquisition needs to pass a governmental review before it is finalized.
Hope it won’t affect innovation in the long run when two of such big systems are in the hands of the same investors