|
VeriSign inks two deals
|
 |
December 20, 1999: 12:48 p.m. ET
Internet verification firm to acquire Signio, Thawte for combined $1.31B
|
NEW YORK (CNNfn) - VeriSign Inc. agreed Monday to acquire two firms for a total of $1.31 billion in stock to expand its reach into Internet payment services.
VeriSign (VRSN), which makes digital certificates to verify the identity of Internet companies, agreed to issue 5.6 million of its shares for all the outstanding stock of Signio Inc. Based on VeriSign’s Friday closing price of 130-15/16, the deal is worth approximately $733 million.
Signio provides payment services connecting online merchants, business-to-business exchanges, payment processors and financial institutions online.
"With the dramatic growth in online storefronts and [business-to-business] exchanges, customers are looking to deploy trusted, reliable and frictionless payment solutions," said Stratton Sclavos, VeriSign's president and chief executive officer.
The Mountain View, Calif.-based company also agreed to acquire Thawte Consulting, a South African provider of digital certificates to Web sites and software developers, for about $575 million in stock.
The companies plan to develop global standards for digital certificates.
VeriSign shares rose 14-9/16 to 145-1/2 in midday trading. 
|
|
|
VeriSign
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
