full-disclosure - VeriSign to Sell Network Solutions

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Message-ID: <200310160919.48108.jeremiah@nur.net>
From: jeremiah at nur.net (Jeremiah Cornelius)
Subject: VeriSign to Sell Network Solutions

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VeriSign to Sell Network Solutions Business to Pivotal Private Equity 

.com and .net Registry and Naming and Directory Services Infrastructure to 
Remain with VeriSign as Cornerstone of Internet Infrastructure Business 

Mountain View, CA, October 16, 2003 VeriSign, Inc, the leading provider of 
critical infrastructure services for the Internet and telecommunications 
networks, today announced it has signed a definitive agreement to sell the 
Network Solutions business unit to Pivotal Private Equity. Under the terms of 
the agreement, VeriSign will receive approximately $100 million, consisting 
of $60 million in cash and a $40 million senior subordinated note. VeriSign 
will also retain a 15% equity stake in Network Solutions. The transaction is 
subject to certain closing conditions and is anticipated to close in the 
fourth quarter.

More at:
http://www.verisign.com/corporate/news/2003/pr_20031016.html
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