Thursday, 18 May 2006

VeriSign to Acquire GeoTrust for USD 125 Mln

Web Security firm VeriSign Inc. has agreed to acquire GeoTrust Inc., a supplier of solutions to secure e-business transactions, for about USD 125 million in cash.

GeoTrust’s has more than 9,000 direct resellers in 140 countries that will complement VeriSign’s direct-sales SSL business.

The acquisition is expected to be close in the second half of this year and add to 2007 earnings per share.