VeriSign selling domain name unit

FRAMINGHAM (10/17/2003) - VeriSign Inc. is selling 85 percent of its Network Solutions business, which provides .com and .net Internet domain name registrations, to Pivotal Private Equity for approximately US$100 million. VeriSign gained Network Solutions' registrar and registry businesses when it purchased the company in 2000 for $16 billion. The company will retain full ownership of the master databases for .com and .net, including the controversial SiteFinder search service that it recently agreed under pressure to temporarily suspend.

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