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VeriSign To Acquire GeoTrust
Acquisition Complements VeriSign’s Direct-Sales SSL Presence
With Well Developed Reseller Channel
May 17, 2006
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 VeriSign’s mission to enable and protect all forms of
networked interactions, and addresses the needs of an evolving SSL market. GeoTrust’s well
developed channel of more than 9,000 direct resellers in more than 140 countries will
complement VeriSign’s direct-sales SSL business, currently serving more than 3,000 enterprises
worldwide.
“The acquisition of GeoTrust improves VeriSign’s 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.”
“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
VeriSign’s heritage in providing SSL and other network security solutions, as well as its global
support network.”
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.
About VeriSign
VeriSign, Inc. (Nasdaq: VRSN), operates intelligent infrastructure services that enable
and protect billions of interactions every day across the world’s voice and data
networks. Additional news and information about the company is available at
www.verisign.com.
Related Member:
Zenas Hutcheson
Related Company:
GeoTrust
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