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 Naming and Directory
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.com.
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 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 risk
that the settlement will not be finalized and that the agreements that
memorialize the settlement will not be approved in current form, the
uncertainty of future revenue and profitability and potential fluctuations
in quarterly operating results. 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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