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This excerpt taken from the VRSN 8-K filed Nov 23, 2005. ITEM 2.01. Completion of Acquisition or Disposition of Assets.
On November 18, 2005, VeriSign, Inc. (“VeriSign”) completed the sale of certain assets related to its payment gateway business pursuant to an Asset Purchase Agreement, dated October 10, 2005 (the “Agreement”), among PayPal, Inc., PayPal International Limited (collectively, the “Purchasers”) and eBay Inc. Under the Agreement, the Purchasers acquired certain assets related to VeriSign’s payment gateway business and assumed certain liabilities related thereto for $370 million in cash.
The foregoing description of the terms of the Agreement is qualified in its entirety by reference to the Agreement that is filed as Exhibit 10.1 attached hereto and is incorporated herein by reference.
A copy of the press release issued by VeriSign on November 21, 2005 announcing the completion of the above-mentioned transaction is filed as Exhibit 99.1 and is incorporated herein by reference.
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