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EBay Acquiring VeriSign Processing for $370 Million
Forum124 was one of the first in a wave of readers to tell us that eBay is acquiring VeriSign's payment processing business for US$370 million. VeriSign will be merged with PayPal and is estimated to generate a 20 percent operating margin which eBay hopes to help offset the recently reported high purchase price of Skype.
This might be the future of VeriSign:
www.paypalwarning.com (notice that this site hasn't been taken down due to libel)
www.paypalsucks.com (ditto)
Habitual VeriSign customers using VeriSign to collect payments may be wise to abandon ship.
--- Grow a pair, liberals... stop letting the Republicans bully you!
the headline is misleading, very misleading.
which explains why the sum might seem low to some.
world was created 5 seconds before this post as it is.
The headline is just plain wrong.
EBay is buying one DIVISION of Verisign, not the whole company.
October 10, 2005
Dear Colleagues,
Today, VeriSign took another step forward on our Journey--this time with a respected technology leader and trusted partner, eBay. VeriSign and eBay have formed a strategic alliance that calls for our two companies to collaborate globally on payment services and security initiatives for e-commerce.
This alliance brings together two leaders in online commerce and security to benefit customers and merchants with greater protection, improved technologies, and more streamlined payment processing.
As part of the alliance, PayPal, an eBay company, will acquire our Payment Gateway assets and combine them with their leading merchant services platform. Additionally, we will provide eBay and PayPal with a suite of security services that includes the deployment of the VeriSign Unified Authentication service and up to one million two-factor authentication tokens to be rolled out in 2006. The deployment of VeriSign Unified Authentication will cut across all eBay companies, and we believe it will constitute the largest consumer authentication deployment in history. Please see the fact sheet for details.
Along with our Payment gateway assets, eBay will also be integrating the majority of our Payment Services employees into PayPal, and will be moving them to eBay's San Jose, California campus. I want to thank all of our Payment Services employees for their hard work and incredible results in building this successful business, and for contributing to a strategic alliance that will support the VeriSign mission to enable and protect all forms of digital interactions over the world's voice and data networks.
Sincerely,
Stratton
EBay is acquiring the payment processing unit of VeriSign. The headline on this story (as of this writing) is HORRIBLY misleading.
Now is the time for ICANN to take action, if anytime. I don't want another wildcard case from Verisign, tyvm.
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Good clarification. Except :
Security Services (formerly RSA)
This was a RSA spin-off, and was not a part of RSA Security Inc. The Security Service that Verisign provides (and was the core of their original business) is that of a managed PKI service, Root CA signing, S/MIME certificates and code-signing.
Not to mention VeriSign owns Jamba!: http://jamba.de/s/dcw/html/about-us_en.html, which produces MAJORLY annoying ringtones and tv commercials to sell them. They try to rip off kids in a way which is actually often illegal (the fine print says you dont actually buy a ringtone, you buy a subscription.. which kids aren't allowed to. etc. that kind of stuff), and annoy the hell out of the rest of us. They operate all over Europe, and according to that link apparently also in North America.