To: Tom Hua who wrote (1346 ) 12/20/1999 10:33:00 PM From: Sir Auric Goldfinger Respond to of 4120
In spite of what the pale boulder people from Texas say, the reason that ZIXI is such a job is that they have no intellectual property. VRSN does: " Verisign to Pay $1.31 Billion To Acquire Two Companies An INTERACTIVE JOURNAL News Roundup MOUNTAIN VIEW, Calif. -- VeriSign Inc. agreed to pay $1.31 billion in stock to acquire two companies that will help expand its reach and propel it into Internet payment services. Verisign said it will pay about $735 million, based on Friday's closing stock price, to buy closely held Signio Inc., a Redwood Shores, Calif., provider of payment-services connecting online merchants, payment processors and financial institutions. Friday, shares of VeriSign closed at $130.9375. In midday trading Monday on the Nasdaq Stock Market, the shares were up $11.3125 to $142.25. Verisign, which makes the digital certificates used to verify the identity of online firms, agreed to issue about 5.6 million shares of VeriSign common stock for all outstanding shares and options of Signio (www.signio.com). The acquisition will be accounted for as a purchase. "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, president and chief executive of VeriSign, in a statement. In the second deal, VeriSign said it acquired closely held Thawte Consulting of South Africa, which also makes digital certificates, for about $575 million in stock. The companies said that by combining, VeriSign and Thawte will be able to implement a consistent set of global standards for digital certificates. VeriSign said it currently serves all of the top 40 e-commerce sites and Fortune 500 companies with a Web presence. Thawte (www.thawte.com) was founded in 1995."