|Neustar has acquired the rights to .co domain.|
Neustar, a Sterling-based telecommunications and Internet services company, has announced it will buy Bogota, Colombia-based .CO Internet S.A.S., which controls the Colombian domain address .co for $109 million, according to a Form 8-K filed with the Securities and Exchanges commission.
More than 1.5 million websites currently use the .co domain, according to the .CO Internet company website.
NASDAQ.com reported the company had $21 million in annual revenue in 2013.
The .co domain became popular as a logical addition to branding and shortening links.
Twitter uses its t.co domain to shorten links for sharing, while some other companies like Amazon and Google also snapped up coveted one-letter .co domains.
Neustar is currently in competition with rival telecommunications company Ericsson to win a $450 million government contract to allow cellphone users to switch service providers, but keep their phone number.
Neustar hopes to diversify its revenue stream should it lose the lucrative contract.
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