The Amsterdam-based company, which is a Rockstart alumni, said it first received an acquisition offer from Epik six months ago, which it originally refused; however talks continued, according to cofounder and CEO Reza Sardeha, leading to an eventual deal.
The company will continue to operate as an independent subsidiary of Epik, it said.
“We’ve already started integrating Epik’s core technology directly at Undeveloped to create a more full-service marketplace and go beyond just accommodating buying and selling domains,” the company said in a statement.
Undeveloped added that it will be rolling out new features for customers post-acquisition including a full-service domain registration, management and monetization suite, automated domain renting and leasing, and more secure escrow services.
The company told tech.eu that it hit record revenues of just over €1 million in 2016 and doubled the number of transactions last year compared to 2015.