Verisign on Thursday announced the sale of its consumer-facing Network Solutions domain registration unit to Pivotal Private Equity in a deal valued at $100 million
Published:
17 October 2003 y., Friday
Less than a year after relaunching the Network Solutions TLD registration brand, Verisign is exiting the business to focus on its core Internet and telco infrastructure units.
Since acquiring Network Solutions in a massive $21 billion deal in 2000, the Mountain View, Calif.-based Verisign has struggled with the domain registration side of the business. Over the years, the company has been at the receiving end of harsh customer service complaints and accusations of overly aggressive marketing, including recent backlash against the controversial SiteFinder service.
In a statement, Verisign made it clear that Thursday's cash-and-stock transaction involved only the registration unit. Verisign retains the infrastructure side of the business, which includes control of the lucrative .NET and .COM registries.
Terms of the deal call for Pivotal Private Equity to shell out $60 million in cash and a $40 million subordinated note for the registrar. Verisign retains a 15 percent stake in Network Solutions. The deal is expected to close in the fourth quarter this year.
Officials at Pivotal Private Equity could not be reached to comment on plans for the Network Solutions registrar. The Phoenix-based real estate developer recently formed a subsidiary to purchase middle-market purchases and recapitalizations of under-performing tech companies. The subsidiary was set up to pursue deals in the range of $10 million to $100 million, which is the high end of the Network Solutions purchase.
Šaltinis:
atnewyork.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Software company announced new structure_ of it_s business.
more »
Unisys Corporation (NYSE: UIS) announced enhancements to its Baggage Reconciliation System (BRS) featuring more detailed information about baggage handling requirements for incoming flights, real-time monitoring and alerts of service level agreements (SLAs), and a mobile app to provide passengers with live updates on when and where to collect their bags.
more »
Samsung doubled its share of the tablet PC market in the last three months of 2012, research firm IDC has said.
more »
Facebook boss Mark Zuckerberg has strongly denied the social network is planning to release its own phone.
more »
The OnLive gaming service is to be made available to Google TV users, following a deal with electronics firm LG. One of a handful of firms making hardware for Google TV. LG's G2 series sets have Google's TV service built in.
more »
Blackberry has become the latest smartphone to offer free wi-fi calls to users via its own software. Research In Motion (RIM) has added the facility to its Blackberry Messenger (BBM) app, which already offered an alternative to text messages.
more »
We are delighted to announce that on 26th of January SafeNet Sentinel Cloud was awarded the SiiA 2012 Best Digital Rights Management Solution!
more »
The Spanish government has approved tough new legislation which could see websites deemed to be trading in pirated material blocked within ten days.
more »
The Los Angeles World Airports (LAWA), which oversees airport operations for the city of Los Angeles, has awarded a contract modification to Unisys (NYSE: UIS) to upgrade its access control and alarm monitoring system, used to identify the 45,000 airport employees, contractors, police and others who work at the organization’s three airports.
more »
Unisys Corporation (NYSE: UIS) today announced Version 2 of its Unisys Secure Private Cloud Solution, the company’s flagship cloud solution for clients’ and cloud service providers’ data centers.
more »
An American blogger has discovered three fake Apple stores operating in Kunming city, China.
more »