The tool allows customers to lock in today's prices and avoid further price hikes.

MyDomain, a domain name registration and web hosting provider, has come up with a new Multi-Year transfer tool. The company claims that this will allow anyone with a domain to transfer the name to MyDomain for up to nine years and avoid future registry price increase over the coming years. The company's new tool boasts of locking domain names for nine years at an average price of $7.28 per year.

"MyDomain's mission is to provide our customers with the most comprehensive set of domain hosting and registration services available today at the best possible value. MyDomain offers some of the lowest price options in the entire industry and provides more value and free services for our customers than much higher priced registrars," said Clint Page, CEO of MyDomain. "With our new Multi-year transfer tool, users can transfer a name to MyDomain, locking in today's low pricing for nine additional years and avoiding future registry price increases. For businesses and home users who have important domain names that they know they want to keep ownership of, locking them in now for nine additional years will result in a huge cost savings in the long run."