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Press Release |
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VeriSign and ICANN
Reach Agreement, Settle Lawsuit
Mountain View, CA. – October 24, 2005 - VeriSign, Inc. (Nasdaq:
VRSN), the leading provider of intelligent infrastructure services for
Internet and telecommunications networks, today announced it has reached
agreement to settle its lawsuit with the Internet Corporation for Assigned
Names and Numbers (ICANN).
VeriSign and ICANN
reached an agreement that strikes the important balance of providing
business certainty for VeriSign and other registry operators while ensuring
that ICANN can play an effective and clearly established role as technical
coordinator.
A critical component
to strike that balance is a framework that establishes processes and
guidelines for the introduction of new services, provides business certainty
for top-level domain name registry operators and embraces a sensible
market approach to registry pricing. VeriSign and ICANN also agreed
to extend the .com registry agreement through 2012.
“An agreement could
not have been reached without both sides trying to find compromise and
new solutions,” said Mark McLaughlin, Senior Vice President and General
Manager of VeriSign’s Information Services business unit. “VeriSign’s
objective was to gain clarity and business certainty for Internet operators.
We are confident that this agreement accomplishes that objective and
provides a framework for strong industry-ICANN partnership based on
clear definitions and processes.”
VeriSign looks forward
to working more closely with ICANN and the Internet community to ensure
the security and stability of the Internet, drive innovations that benefits
Internet users and strengthen the private-public partnership that has
nurtured the Internet’s dynamic rise as a critical infrastructure for
commerce and communications.
About VeriSign
VeriSign, Inc. (Nasdaq: VRSN), operates intelligent infrastructure
services that enable and protect billions of interactions every day
across the world’s voice and data networks. Additional news and information
about the company is available at www.VeriSign.co.uk.
For more information,
contact:
VeriSign Media Relations: Jim Hock, jim.hock@463.com,
202-494-8132
VeriSign Investor Relations: Tom McCallum, tmccallum@verisign.com,
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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