VeriSign completes Network Solutions acquisition
The maker of online security software has completed its $15.3 billion acquisition of the Net name registrar to offer businesses a broader array of Internet services.
VeriSign is swapping 1.075 shares for each share of Network Solutions (NSI). The Mountain View, Calif.-based company said it will issue about 78 million shares in the transaction and assume NSI's outstanding employee stock options.
VeriSign leases software for issuing computerized IDs. Internet retailers use the software to prove their identities to customers, while corporations use it to provide secure email and allow employees to log on to computer networks. NSI, based in Herndon, Va., manages the database of Web addresses and specializes in issuing addresses ending in ".com," ".net" and ".org."
VeriSign shares fell $5.94 to $190.25 in morning trading. They have fallen 1.9 percent since the acquisition was announced March 7.
Network Solutions fell $4.25 to $201.25 yesterday. The transaction is valued on VeriSign's closing price yesterday of $196.19.
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