VeriSign Shares Decline Following .COM Registry Deal

(Ping! Zine Web Tech Magazine) – SSL certificate provider Verisign on Friday announced the renewal of a contract with the U.S. Department of Commerce, allowing the company to continue as the official registry provider of the popular .COM TLD.

The deal provides Verisign with approval valid until at least November 30, 2018.

New stipulations are part of the agreement. The current pricing structure setting a cost of $7.85 per domain remains valid. However, Verisign can no longer implement previously available price increases which allowed the company to raise rates by up to 7%.

Such restrictions can be removed if Verisign proves to the Commerce Department they are no longer needed, though.

In a press release, Verisign CEO Jim Bidzos expressed satisfaction with the deal, stating, “This certainty, combined with our strong portfolio of assets, which includes broad DNS expertise, a combined total of more than 200 unique patents and patent applications in the U.S., the world’s most reliable registry, and over $1.4 billion in cash, positions us well to participate in the growing global market for Internet registry and infrastructure services.”

VeriSign’s services include DDoS protection, registry, reselling and whois databases.

The market, however, didn’t seem to respond well to the move. According to a report from NASDAQ.com on Tuesday, stock price trading for the company resulted in a price of $34.15 recently, representing a fall of almost 14% in shares.

Advertisement