Verisign to Slim Down and Focus on Core Businesses

VeriSign (VRSN), which is meeting with analysts in New York today, this morning announced that it plans to divest a number of businesses, including its communications, billing and commerce units.

The company will focus on Naming Services, which oversees the .com, .net and .tv Internet domains; web certificates, certifying secure transmission on the Net using the secure sockets layer; and identity protection services. The company did not provide any details on the financial impact of the move.

The biggest move could be unloading the communications services unit, which accounted for $138 million of the company’s $374 million in third quarter revenue, about 37% of the total.

VeriSign Wednesday is up 39 cents, or 1.2%, at $33.54.

Comments

[invsetor_in_stocks]

Thanks for the good news from the company and thanks to Eric for sharing with the investors.

This is an good(excellent) investment for small/big investors in stock unlike investing in google or apple stocks.