Verisign

Type:	Public
Industry:	Internet, Communications, Registry
Founded:	USA (1995)
Founder(s):	Jim Bidzos
Headquarters:	487 East Middlefield Road, Mountain View, CA 94043,
Country:	USA
Employees:	2,225
Revenue:	$1.5 billion USD (2007)
Website:	http://www.verisign.com/
Key People
Mark McLaughlin, CEO D. James Bidzos, Chairman
nTLDStats
TLDs:	13
Registrations:	10,841
More Info: nTLDStats

VeriSign is an Internet infrastructure service providing company. It is s based in Mountain View, CA and was founded in 1995. VeriSign has offices in California, DC, Indiana and also Europe, Japan, India, Brazil, China, Australia, Switzerland, Uk etc.

VeriSign provides naming services and authentication services. The naming services include the provision of authoritative directory of various .com, .net, .cc, .tv, .name, .jobs, and .edu domain names. The authentication services includes business authentication services such as implementing and operating secure networks, utilizing SSL protocol, encrypting transactions and communications and User authentication such identity protection , fraud detection, and public key infra structure etc.

History

In 1995, RSA pioneered two-factor authentication and encryption and VerSign was founded as a 'spin-off' of the RSA security technology to act as an certificate authority (CA).

In May 2005 VeriSign introduced a new 2048 bit VeriSign Class 3 Secure Server CA which was used to sign Secure Site Certificates obtained from thier website for IIS web servers.

In June 1995 VeriSign announced partnerships with Apple Computer Inc. and Netscape Communications Corp to implement VeriSign's Digital IDs in their software product.

VeriSign appointed Stratton D. Sclavos as the president and CEO in August 1995.

VeriSign introduced the first online digital certificate issue system in Janurary 1996, at the at the RSA Data Security Conference in San Francisco.. VerSign also announced an agreement with Terisa Systems to develop a new and complete internet security solution about that time.

Secure Email was launched January 1996. VeriSign lunched Code Signing with Microsoft in March 1996. In August, 2996, Microsoft and VeriSign announced the availability of client authentication technology for Microsoft IE users by using VeriSign Digital IDs. In 1997, the First Internet Commerce Transactions Linking Europe, Asia and the United States was conducted by Verifone and VeriSign. United States Department of Commerce approved VeriSign's plans to issue new VeriSign Global Server IDs in June 1997 allowing 128-bit encryption.

In July, 1997, Versign acquired by SecureIT, a Network Security Service providing company.

In 1997, VesiSign filed to raise $40 million for its public stock.. On January 10, 1998, Versign went public.

VeriSign announced to divest its slower growing units and invest more on Web site-naming and Internet security services on November 2007. Report shown these steps had cuthalf of its employeers.

In October, 1998, VeriSign releases a fully integrated PKI platform OnSite 4.0.

VeriSign offered Y2k testing certs for free in November 1998. In December 1998, VeriSign introduced introduced digital certificate service for Wireless Application Protocol (WAP) servers and gateways.

VeriSign aquires Thawte Consulting and Signio in 1999. . In march, 2007, versign aquires Network Solutions for about 21 billion. VerSign also aquires GreatDomains.com in October 2000, eNIC Corporation and the .cc registry in 31, 2001, Illuminet in December 2001, HO Systems in 2002. Versign sold Network Solution in November, 2003 to Pivotal Private Equity for about 100 million. Versign then aquires Guardent in 2003 and Unimobile and Jamba in 2004.

In Januray 2005, VerSign buys wireless photo messaging firm LightSurf for about $ 270. . VerSign purchases purchased R4 Global Solutions in May 2005. . Verisgn buys Lightbridge, an ecommerce company, in May 2005.. In July 2005, VeriSign aquires security intelligence specialist iDefense for $40 Million. .

In Novemver, 2005, VeriSign's payment gateway business, paypal, was sole to ebay for approximately $370 million cash and acquisition costs. .

VeriSign anounced acquisition of Kontiki for 62 million in March 2006.. Acquisition of GeoTrust Inc., for $125 was announced in May 2006. . Versign aquired inCode wireless in November, 2006..

VeriSign Introduces Extended Validation SSL Certificates, standard practices for certificate validation and display approved by a group of leading SSL Certificate Authorities (CAs) and browser vendors in December 2006..

In May, 2009, Stratton Sclavos stepped down from his positions as CEO of VeriSign and William Roper Jr. was named for that position.. Later, Jim Bidzos, the founder of VeriSign was appointed as the CEO and President.

In 2008, VeriSign sold its global Digital Brand Management Services business for US$50 million to MelbourneIT.

Products and Services

Versign Provides its services through two division, Internet Services division and Security Service Division.

Internet Services division includes Naming & Directory Services such as domain name registration for .com and .net and DNS-related and RFID services.

Versign sold its Security Services to Symantec in May 2010. VeriSign's security services included managing security services such firewalls, intrusion detection and prevention, vulnerability protection, etc. It also provided global security consulting, email security, authentication and digital certificate/SSL validation business such as Extended Validation (High Assurance) SSL Certificates.

Selling Authentication Services Business to Symantec

VeriSign's logo, a check mark and the tag "VeriSign Secured" is one of the most trusted trademark of secured website. Even though providing internet security was the primary objective of the company, over time VeriSign shifted its priority to website management and domain registration business.

VeriSign sold a number of its security businesses in last couple of years. Finally in May 2010, Versign sold its entire division sells security technology to websites to Symantec for 1.28 million.

Because of this deal, Symantec now has the right to VeriSign's logo and "VeriSign Secured" tag for SSL certification.

Domain Slamming

in May 2002, BulkRegister sued VeriSign for domain slamming. BulkRegister claimed VeriSign "engaged in unfair practices" with a recent marketing campaign that attempted to get domain owners to use VeriSign to renew their existing policy. In 2003, VeriSign was found not to have broken the law and as a result did not need to pay any fine. However, VeriSign have been barred from suggesting domain renewal or expiration prospects.

Site Finder Service and issues with ICANN

VeriSign launched Site Finder September, 2007, where when an user would type an unregistered address it would be redirecting the surfer to its Site Finder search engine. ICANN published a report against this policy stating "VeriSign violated architectural principles, codes of conduct and good practice." ICANN had declared Site Finder in violation of VeriSign's contracts for running the master address lists for ".com" and "Out-law.com</ref> Later ICANN asked VeriSin to suspend Site Finder service.

In October,a hearing took place place in Washington, D.C. to review technical issues where U.S. Department of Commerce gives permission to VeriSign to operate the DNS for .com and .net and VeriSign shuts down the service.

Later in February 2004, VeriSign sued ICANN claiming it had unlawfully been prevented from adding new features to .com and .net. . In August 2004, The claim was moved from federal to California state court. Eventually in In late 2005 VeriSign and ICANN announced a proposed settlement introduces terms for a new registry services in the .com registry.

The document of these agreements are publicly avilable in ICANN's official website and can be viewed from here.It should be mentioned that the terms of these agreement were subject to a lot of public criticism.

Also in other domain name negiotiations with ICANN VeriSign traded .org top-level domain in return for continued rights over .com. In mid 2005, when VeriSign's contract for operation in .net expired, VeriSign and 5 other company bid for it. VeriSign was supported by renowned IT companies like Microsoft, IBM, Sun Microsystems, MCI. Finally on June 8, 2005 ICANN announced that VeriSign had been approved to operate .net until 2011.

External links

• VeriSign.com