Feeds

VeriSign sells off NetSol

Keeps control of .com and .net, natch

  • alert
  • submit to reddit

Internet Security Threat Report 2014

VeriSign today announced it has signed a definitive agreement to sell off the registrar and hosting business of its Network Solutions subsidiary to Pivotal Private Equity for approximately $100 million.

But VeriSign will retain the registry business it obtained when it acquired Network Solutions three years ago. This business was recently renamed VeriSign Naming and Directory Services when it became part of VeriSign's Internet Services Group.

That means VeriSign remains custodian of the .com and .net domain name registries - so its plans to relaunch its controversial Site Finder service remain in place.

Under the terms of today's agreement, VeriSign will receive approximately $60 million in cash and $40 million in securities for selling a majority stake in its Network Solutions to Pivotal Private Equity. VeriSign will retain a 15 per cent equity stake in Network Solutions.

The transaction, which is subject to certain closing conditions, is expected to close in Q4 2003.

Said Stratton Sclavos, Chairman and CEO of VeriSign: "We believe that this transaction will strategically position VeriSign to focus exclusively on our core mission of providing critical infrastructure services for the Internet and telecommunication networks, while allowing Network Solutions to pursue its own independent strategy in the Web presence market." ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.