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Thursday, October 16, 2003

 

Pivotal Private Equity to Acquire World's Largest Domain Name Registrar, Network Solutions  

Pivotal Private Equity to Acquire World's Largest Domain Name Registrar, Network Solutions: "October 16, 2003 08:30 AM US Eastern Timezone

Pivotal Private Equity to Acquire World's Largest Domain Name Registrar, Network Solutions

PHOENIX--(BUSINESS WIRE)--Oct. 16, 2003--Pivotal Private Equity announced today that it has signed an agreement to acquire control of Network Solutions, the world's largest domain name registrar, for $100 million. Herndon, Virginia-based Network Solutions provides a variety of Internet services, including domain name registration, e-mail services, Web-site hosting and creation tools, and other value-added services for its more than 4 million customers. Pivotal Private Equity will acquire the firm from VeriSign Inc., based in Mountain View, Calif., the leading provider of critical infrastructure services for Internet and telecommunications networks. The transaction is expected to close in the fourth quarter of 2003. VeriSign will retain a minority interest in Network Solutions and retain its registry business. "





Note that this is NOT the part of VeriSign that has caused all the trouble in recent weeks. This part (Network Solutions) now has nothing to do with the Internet registry. This move was rumored for a while as a way for VeriSign to focus on making money from the net without having a non-profitable part of the business hanging around their necks.


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