Mountain View, California – (The Hosting News) – September 8, 2006 – Internet security and infrastructure company, VeriSign, Inc., has completed its acquisition of identity verification and network security solutions firm, GeoTrust’s customer base of more than 9,000 direct resellers in more than 140 countries.
The purchase price of the acquisition is approximately $125 million and is being accounted for as a purchase transaction. The transaction is not material to VeriSign’s current Q3 financial guidance as provided on its July 20, 2006 earnings call. VeriSign expects the acquisition to be accretive to earnings per share in 2007. Additional financial information on the acquisition will be provided on the Q3 2006 earnings call.
Recently, VeriSign launched a Fraud Detection Service and acquired Snapcentric, for a purchase transaction valued at $12 million. All of Snapcentric’s employees in the United States and Israel became part of VeriSign Security Services.
VeriSign, Inc., operates intelligent infrastructure services designed to enable and protect billions of interactions every day across the world’s voice and data networks.
To learn more about VeriSign SSL offerings, please visit: www.verisign.com/products-services/security-services/ssl/index.html .
For more information about VeriSign, Inc., please visit: www.verisign.com.