Tucows Inc (TCX)

[Rckhnd]

Nice jump.

Tucows Sells Equity Interest in Afilias for $7.4 million

- Sale marks next step in Company's divesture of non-core assets -

TORONTO, Nov. 5 /PRNewswire-FirstCall/ -- Tucows Inc. (AMEX:TCXAMEX:TSX:TC), a global provider of domain names, email and other Internet services, today announced it has sold all of its 7.38 equity interest in Afilias, a global provider of registry services, back to the company. The purchase price of $7.4 million is payable to Tucows in three cash installments: $3.2 million today; $2.1 million in June 2009; and $2.1 million in December 2009.

"This sale is another step in our stated goal to divest non-core assets in order to unlock hidden value for shareholders," said Elliot Noss, President and CEO of Tucows Inc. "The proceeds of the sale provide additional funds that will be used to fund further share repurchases."