VeriSign announced the completion of the sale of its Authentication Services business to Symantec Corp. for approximately $1.28 billion in cash subject to adjustments related to working capital.
As part of the transaction, which was originally announced on May 19, VeriSign sold to Symantec its Secure Sockets Layer (SSL) encryption certification services business, its managed Public Key Infrastructure (PKI) platform and its ownership stake in VeriSign Japan.
VeriSign retains its Naming Services business, which contributed approximately $168 million of the company's revenues in the quarter ended June 30, 2010.
"With this transaction completed, VeriSign is now focused on the growing Internet infrastructure services business, where we plan to build on our expertise and record of success as the longtime operator of the .com and .net domain infrastructures," said Mark McLaughlin, VeriSign president and CEO. "We will continue the growth strategies related to our Registry services and Network Intelligence and Availability services by leveraging our existing infrastructure capabilities for new services, expanding internationally and pursuing new top-level domain opportunities."
About VeriSign
VeriSign, Inc. is the trusted provider of Internet infrastructure services for the networked world. Billions of times each day, VeriSign enables companies and consumers all over the world to connect online with confidence.
Additional news and information about the company is available at www.verisign.com .
- Follow us on :
