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VeriSign Completes Acquisition of GeoTrust

  • 06 September, 2006 10:22

<p>VeriSign, Inc., (NASDAQ: VRSN), the leading provider of intelligent infrastructure services for Internet and telecommunications networks, today announced the successful completion of its acquisition of GeoTrust, a provider of identity verification and network security solutions.</p>
<p>The acquisition enables GeoTrust’s extensive customer base and well developed channel of more than 9,000 direct resellers in more than 140 countries to benefit from VeriSign’s deep SSL Certificate heritage and global support network.</p>
<p>The purchase price of the acquisition is approximately US$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 20 July 2006 earnings call. VeriSign expects the acquisition to be accretive to earnings per share in 2007.</p>
<p>Additional financial information on the acquisition will be provided on the Q3 2006 earnings call.</p>
<p>For more information on VeriSign SSL offerings, please go to: http://www.verisign.com.au/ssl/</p>
<p>About VeriSign</p>
<p>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.au</p>
<p>Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the inability of VeriSign to successfully market the combined companies' services and customer acceptance of the combined companies' services; the risk that the expected synergies resulting from the combination will not materialize; the incurrence of unexpected costs integrating the businesses; increased competition and pricing pressures; and the inability of VeriSign to successfully develop and market new products and services and customer acceptance of any new products or services. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2005 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statement after the date of this press release.</p>

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