To pay approximately $125 million in cash; GeoTrust's direct resellers channel to complement VeriSign's direct-sales SSL business.

VeriSign, Inc., a provider of intelligent infrastructure services for the Internet and telecommunications networks, today announced it has entered into an agreement to purchase Needham, MA-based GeoTrust, Inc., an identity verification solutions provider, for approximately $125 million in cash.

The acquisition of GeoTrust extends VeriSign's mission to enable and protect all forms of networked interactions, and addresses the needs of an evolving SSL market. GeoTrust's channel of more than 9,000 direct resellers in more than 140 countries will complement VeriSign's direct-sales SSL business, currently serving more than 3,000 enterprises worldwide, said the company. While the acquisition will be accounted for as a purchase transaction and is expected to be accretive to earnings per share in 2007.
   
"The acquisition of GeoTrust improves VeriSign's ability to serve the reseller channel market with technologies and services that are specifically tailored to their needs," said Judy Lin, Executive Vice President and General Manager, VeriSign Security Services.

"As the market for SSL continues to grow among organizations of all sizes, VeriSign recognizes the importance of a strong reseller channel to reach a broader range of customers," said Neal Creighton, GeoTrust CEO. "GeoTrust customers and resellers are sure to benefit from VeriSign's heritage in providing SSL and other network security solutions, as well as its global support network."