One of Europe's largest domain name and web hosting providers, One.com, has been sold by the private equity firm Accel-KKR to Cinven.The company has almost 1.5m customers in Northern Europe and the deal itself resembles Cinven's previous acquisition of Host Europe Group which it bought for $668m in 2013 and then later sold to Go Daddy two years later for $1.8bn.According to Accel-KKR, One.com has been growing at a rate of 20 per cent and its revenues have doubled under the firm's four-year ownership to $69m.

At the same time, the company's profitability has grown considerably as it pitches itself to businesses as the 'budget' option when it comes to web hosting.Growth by acquisitionOne.com's Founder and CEO Jacob Jensen, who will be staying on to lead the company, explained how the business will adhere to its initial vision, saying:“The vision of One.com since its founding has been to deliver value-added and easy-to-use solutions to small- and medium-sized businesses and prosumers,”  Cinven is interested in growing the business further through acquisitions which means that there could be further consolidation of smaller European web hosting providers in the future.This will allow One.com to not only compete against GoDaddy, who has increased its presence in the region, but also Amazon.

The e-commerce giant has continued to expand its business and the company already provides a number of other services in addition to web hosting to help lure in new customers.Via TechCrunch