VeriSign To Acquire GeoTrust
Acquisition Complements VeriSigns Direct-Sales SSL Presence
With Well Developed Reseller Channel
MOUNTAIN VIEW, CA May 17, 2006 VeriSign, Inc. (Nasdaq: VRSN), the
leading provider of intelligent infrastructure services for the
Internet and telecommunications networks, today announced it has
entered into a definitive agreement to purchase Needham, MA-based
GeoTrust, Inc., a leading supplier of SSL and other solutions to
secure e-business transactions, for approximately $125 million in
cash. The acquisition is subject to regulatory approvals and other
conditions and is expected to close in the second half of this
year.
The acquisition of GeoTrust extends VeriSigns mission to enable
and protect all forms of networked interactions, and addresses the
needs of an evolving SSL
market. GeoTrusts well developed
channel of more than 9,000 direct resellers in more than 140
countries will complement VeriSigns direct-sales SSL business,
currently serving more than 3,000
enterprises worldwide.
Laptop Battery The acquisition of GeoTrust improves VeriSigns ability to serve
the reseller channel market with technologies and services that are
specifically tailored to their needs, said Judy Lin, executive vice
president and general manager, VeriSign Security Services. The
successful channel business GeoTrust has built will benefit from
our infrastructure and additional products. We look forward to
leveraging the GeoTrust channel, technology and brand to expand on
our existing SSL offerings.
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Thinkpad As the market for SSL continues to grow among organizations of
all sizes, VeriSign recognizes the importance of a strong reseller
channel to reach a broader range of customers, said Neal Creighton,
GeoTrust CEO. GeoTrust customers and resellers are
sure to benefit from VeriSigns
heritage in providing SSL and other network security solutions,
as well as its global support network.
year career in sales and marketing with Hewlett Packard and Apollo Computer. He is a graduate of MIT with a bachelor's degree in electrical engineering and computer science and has an MBA from the Harvard Business School. Bill is currently on the boards of Lumigent, Red Hat, and WildTangent. He previously served on the boards of Alias Research (acquired by SGI), Avid Technology, CheckFree, Clarus, Course Technology (acquired by Thomson), Gateway Design Automation (acquired by Cadence), Mainspring Communications (acquired by IBM), MapInfo, Open Market (acquired by divine), Raptor Systems (acquired by Axent, now part of Symantec), Reflectent (acquired by Citrix), SightPath (acquired by Cisco), Spyglass (acquired by Open TV), Student Advantage and Tenth Planet (now part of Mattel).
Microsoft The acquisition will be accounted for as a purchase transaction
and is expected to be accretive to earnings per share in 2007.
Additional financial information will be provided following the
closing of the transaction.
Our website is hosted on our own dedicated servers and our secure server, which processes all online orders, is registered with a GeoTrust Secure Socket Layer Web Server Certificate. GeoTrust is one of the industy standard certifications for internet security. We are registered and accredited by IMRG who run the ISIS (Internet Shopping Is Safe) and IDIS (Internet Delivery Is Safe) schemes and we have also been assessed as a "safe and secure" Internet store by ShopSafe.
Laptop Computers For more information on VeriSign SSL offerings, click
here.
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Laptop Computer About VeriSign
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Desktop Computer VeriSign, Inc. (Nasdaq: VRSN), operates intelligent
infrastructure services that enable and protect billions of
interactions every day across the worlds voice and data networks.
Additional news and information about the company is available at
www.verisign.com
Notebooks Source: VeriSign
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