Consideration for the transaction was approximately $18 million, payable in a combination of cash and promissory notes.

Tucows Inc., a web hosting and ICANN accredited domain registrar, today announced the successful completion of its acquisition of Mailbank.com Inc., (dba NetIdentity), effective from today.

The company explained that as decided, the consideration for the transaction was approximately $18 million, payable in a combination of cash, promissory notes and the issue of approximately 3,603,000 shares of common stock to the stockholders of NetIdentity.

Based on Tucows' preliminary allocation of the purchase price, the company expects that, due to amortization of the purchase, the acquisition will have a negative impact on GAAP earnings per share until 2008, but will be accretive to earnings before depreciation and amortization in 2006 and 2007.