VeriSign Acquires Retail Solutions, Inc.
Leading Point-of-Sale Data Platform Expands Infrastructure Capabilities
and Customer Base in the Retail Supply Chain
MOUNTAIN VIEW, CA., October 26, 2005 - VeriSign, Inc. (Nasdaq:
VRSN), the leading provider of intelligent infrastructure services for
the Internet and telecommunications networks, today announced the acquisition
of Retail Solutions, Inc. (RSI), a leading provider of operational point-of-sale
(POS) data to the retail industry.
The addition of RSI’s customers and core technology
to VeriSign’s Intelligent Supply Chain Services platform extends the
growing role VeriSign’s scalable, secure infrastructure is playing in
the $8 trillion worldwide supply chain. Operational POS data provides
detailed information about the volume and value of product sales through
retailers, and is increasingly being combined with other “demand data”
and new technologies such as RFID to increase sales and reduce costs,
benefiting both retailers and their suppliers. In conjunction
with the acquisition of RSI, VeriSign also announced today (http://www.verisign.com/wwre)
an agreement with the World Wide Retail Exchange (WWRE) to deliver POS
services through WWRE’s global platform, enhancing store-level visibility
to thousands of retailers and suppliers worldwide.
RSI counts more than 130 industry leaders as customers,
including Unilever and GlaxoSmithKline. The RSI platform provides
these customers with a secure, single point of access to POS data from
over 30 key retailers. The addition of this capability to the
existing VeriSign Intelligent Supply Chain Services platform
increases the scope of services VeriSign offers to retail supply chain
participants and enhances the infrastructure VeriSign has been developing
in the RFID/EPC and pharmaceutical supply chain markets to deliver real
time, relevant data for decision making.
“VeriSign is increasingly working to
leverage its strengths – secure, scalable infrastructure - to provide
value to customers and partners in the supply chain,” said Ann Grackin,
chief executive officer of ChainLink Research. “With the addition of
POS data services, VeriSign has taken a big step forward in this area.
Both end users and solutions providers in the retail space can now leverage
the VeriSign platform for streamlined access to critical information
that today must be gathered from many different sources and in many
different formats.”
“RSI is a great addition to VeriSign’s critical infrastructure
in the global supply chain,” said Mark McLaughlin, senior vice president
of VeriSign’s Naming and Directory Services. “The retail industry is
increasingly looking for new avenues of visibility from manufacturing
plant to store floor, and demand data – including POS information –
is a critical component. With the addition of RSI, we add over
one hundred customers and billions of streamed data records to our platform.”
RSI has approximately 50 full-time employees and offices
in Lincoln, Rhode Island.
The price of the acquisition was approximately $24
million in cash and it is being accounted for as a purchase transaction.
To learn more about VeriSign
Intelligent Supply Chain Services and solutions for retailers and consumer
products manufacturers, visit http://www.verisign.com/supplychain.
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.com.
About RSI
Retail Solutions International, Inc., (dba Retail Solutions, Inc.) is
a leading provider of demand data management tools and services for
retailers and consumer goods companies seeking to maximize their profitability
and efficiency. Using its proprietary database technology, Retail Solutions
quickly delivers accurate point-of-sale data, along with the expert
analysis and consulting needed to make business decisions.
For more information, contact:
VeriSign Media Relations: Patrick Burns, pburns@verisign.com,
703-948-4471
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 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 materialize; 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 Securities and Exchange Commission,
including in the company's Annual Report on Form 10-K for the year ended
December 31, 2004 and quarterly reports on Form 10-Q. VeriSign undertakes
no obligation to update any of the forward-looking statements after
the date of this press release.
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