NEW YORK (Thomson Financial) - VeriSign Inc. Wednesday confirmed it plans to place its strategic focus on the Internet infrastructure business, concentrating on operations in naming services, Web certificates and identity protection services.
As part of this push, the company said it would divest certain businesses in its current portfolio, including communications, billing and commerce.
'The combination of focus and disciplined execution will provide the foundation we need to generate improved shareholder returns,' said Bill Roper, VeriSign's chief executive officer, in a press release. 'We have leadership positions in great businesses with high growth, attractive economic returns and significant barriers to entry.'
The stock closed Tuesday at $33.15.
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