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Press Release |
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VeriSign Acquires Moreover Technologies
Real-time Aggregation Platform
to Complement Blog and RSS Feed Infrastructure
MOUNTAIN VIEW, California, October 17, 2005 - VeriSign, Inc.
(Nasdaq: VRSN), the leading provider of intelligent infrastructure services
for the Internet and telecommunications networks, today announced the
acquisition of Moreover Technologies, a wholesale aggregator of real-time
content for Web sites, search engines and enterprise customers.
By combining Moreover’s content aggregation services with VeriSign’s
global feed management infrastructure, VeriSign will offer bloggers,
publishers, enterprises and Web portals a more intelligent and scalable,
real-time content platform.
The new content
aggregation services will utilise VeriSign’s ping server infrastructure
to increase the reliability and intelligence of its content distribution
network. At present, Moreover aggregates more than 12,000 news
sources and millions of blogs. Harvesting information from across
126 countries in 25 languages, Moreover uses an advanced content tagging
system with more than 30 metadata tags and 380 categories to deliver
hundreds of thousands of unduplicated real-time content articles every
day. Customers such as MSN, AskJeeves and the BBC use Moreover’s
technology to provide their customers with real-time news and content,
while hundreds of other enterprises use the technology to garner real-time
information about market and business trends.
‘By combining the
intelligent content of Moreover’s aggregation services with RSS feeds
and the reliability of our ping server infrastructure, VeriSign will
provide our customers with a highly relevant source of real-time information,’
said Mark McLaughlin, senior vice president and general manager of VeriSign’s
Information Services. ‘The new services will make it easier for
publishers and bloggers to distribute and track their content, as well
as for our enterprise and Web portal customers to improve the reliability
and quality of their feeds as the demand for RSS and Blog information
continues to grow.’
‘Moreover customers
are delighted with our ability to rapidly harvest, tag and distribute
customised real-time content within minutes,’ said James Pitkow, president
and chief executive of Moreover Technologies. ‘Our customers not
only seek the fastest and most current aggregated content, but they
also demand reliable and highly structured data feeds. VeriSign’s intelligent
infrastructure will allow us to provide our customers with even greater
stability to deliver real-time content, so our customers can continue
to count on this information as a reliable part of their business communications
and applications.’
The price of the
acquisition was approximately $30 million (£17 million) in cash and
is being accounted for as a purchase transaction.
Moreover Technologies
has 35 employees with offices in San Francisco and London.
Read more about
VeriSign Real-Time Publisher Services at: http://www.verisign.com/realtime.
About VeriSign
VeriSign, Inc. (Nasdaq: VRSN), operates intelligent infrastructure
services which enable and protect billions of interactions every day
across the world’s voice and data networks. Additional news and information
about the company are available at www.verisign.co.uk.
For more information,
contact:
VeriSign Media Relations: Patrick Burns, pburns@verisign.com,
001 703-948-4471
VeriSign Investor
Relations: Tom McCallum, tmccallum@verisign.com,
001 650-426-3744
Statements in this announcement other than historical data and information
constitute forward-looking statements within the meaning of Section
27A of the United States Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These statements involve risks and
uncertainties that could cause VeriSign's actual results to differ materially
from those stated or implied by such forward-looking statements. The
potential risks and uncertainties include, among others, the uncertainty
of future revenue and profitability and potential fluctuations in quarterly
operating results due to such factors as the inability of VeriSign to
successfully market the combined companies’ services and customer acceptance
of the combined companies’ services; the risk that the expected synergies
resulting from the combination will not materialise; the incurrence
of unexpected costs integrating the businesses; increased competition
and pricing pressures; and the inability of VeriSign to successfully
develop and market new products and services and customer acceptance
of any new products or services. More information about potential factors
that could affect the company's business and financial results is included
in VeriSign's filings with the US Securities and Exchange Commission,
including in the company's Annual Report on Form 10-K for the year ended
31 December 2004 and quarterly reports on Form 10-Q. VeriSign undertakes
no obligation to update any of the forward-looking statement after the
date of this press release.
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