(2005-04-13)
Company Intends to Continue on Path to Build and Operate Intelligent Infrastructure Services that Become Indispensable to Society
VeriSign, Inc. (Nasdaq: VRSN), the leading provider of intelligent infrastructure services for the Internet and telecommunications networks, today celebrates its tenth year in business.
Since the company’s inception in April 1995, VeriSign has had a singular mission: to enable and protect electronic interactions on the Internet and voice networks. From its roots in Internet security and authentication, VeriSign has continued to expand its portfolio of intelligent infrastructure services to address the accelerating revolution in digital communications, commerce and content.
VeriSign began with 4 employees, modest venture capital funding and the mission to provide digital credentials that would enable website authentication and secure communications in the early days of e-commerce. After establishing several strategic partnerships and a leadership position in the market, the company completed a successful initial public offering in February 1998. Today, VeriSign is a member of the NASDAQ 100, achieving approximately $1.2 billion in revenues in 2004, and employing more than 3,700 employees in 45 offices globally.
“We’re proud of the company’s accomplishments over our first ten years as we believe we’ve helped the world begin its migration to a digital economy and society,” said Stratton Sclavos, Chairman and Chief Executive Officer, VeriSign. “That being said, there’s more work to do and our employees are as excited and passionate as ever about continuing on our journey in our second decade as a company. The management team and our Board of Directors are grateful to our customers, shareholders and employees for their support.”
VeriSign’s Intelligent Infrastructure services enable businesses and people to find, connect, secure and transact across today’s complex global networks. Each day, VeriSign enables more than 14 billion Internet interactions, 3 billion telephony signals, $100 million of e-commerce transactions and the delivery of over 10 million wireless text and content messages. The company also provides services that secure more than 3,000 global enterprises and 450,000 Web sites.
“The key to success for VeriSign has been its ability to keep up with the growth and convergence of technology,” said Jim Bidzos, VeriSign Founder and Vice Chairman. “As new markets emerge, VeriSign will be there to provide the intelligent infrastructure services that deliver the necessary scale, security and reliability.”
The company has announced plans to continue to expand its Intelligent Infrastructure services portfolio with innovative solutions for the emerging RFID, VoIP and broadband entertainment markets.
In commemoration of VeriSign’s tenth anniversary, employee and customer events will be held at VeriSign facilities around the world. For more information on VeriSign’s growth, please go to: http://www.verisign.com/10years
About VeriSign
VeriSign, Inc. (Nasdaq: VRSN) operates intelligent infrastructure services that enable businesses and individuals to find, connect, secure, and transact across today’s complex global networks. Additional news and information about the company is available at www.verisign.com.
For more information, contact:
VeriSign Media Relations: Brian O’Shaughnessy, boshaughnessy@verisign.com, 650-426-5270
VeriSign Investor Relations: Tom McCallum, tmccallum@verisign.com, 650-426-3744
Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the inability of VeriSign to successfully develop and market new products and services and customer acceptance of any new products or services; the possibility that VeriSign’s announced new services may not result in additional customers, profits or revenues; and increased competition and pricing pressures. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2004 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.
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