 VeriSign Completes Sale of Network Solutions
posted by michael on Friday November 28 2003, @06:39AM
dmehus writes "With little fanfare, VeriSign announced recently that it has completed the sale of its Network Solutions subsidiary to Phoenix, Ariz.-based distressed asset buyout firm Pivotal Private Equity. Network Solutions will now operate as an independent, fully incorporated company that is privately held 85% by Pivotal and 15% by VeriSign.
The buyout by Pivotal was previously announced in mid October.
One should expect big changes to come to Network Solutions, including: reduction of employees, a complete revamp of the company website and often-criticized account manager/Whois database, lower prices, and once all that is complete, an IPO so Pivotal can dump its shares and make money. And that potential IPO is why I believe VeriSign retained a 15% equity stake in NSI; so that it can gain even more money once its restructuring is complete."
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"[Author's Note: I think the category should be renamed to VeriSign and the NSI should be dropped. Future articles about NSI could go in the "Registrars" topic area.]"
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< Registrar Market Share: An Alternative Perspective
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