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VRSN » Topics » Payment Gateway Business Sale

This excerpt taken from the VRSN 10-K filed Jul 12, 2007.

Payment Gateway Business Sale

 

On November 18, 2005, we completed the sale of certain assets related to our payment gateway business to PayPal, Inc. and PayPal International Limited for $370 million in cash. This transaction was accounted for as a discontinued operation in accordance with SFAS No. 144 (“SFAS 144”), “Accounting for the Impairment or Disposal of Long Lived Assets” (SFAS 144) and, accordingly, we have reclassified the consolidated financial statements for all periods to reflect this transaction.

 

This excerpt taken from the VRSN 10-K filed Mar 13, 2006.

Payment Gateway Business Sale

 

On November 18, 2005, we completed the sale of certain assets related to our payment gateway business to PayPal, Inc. and PayPal International Limited for $370 million in cash. This transaction has been accounted for as a discontinued operation in accordance with SFAS No. 144 (“SFAS 144”), “Accounting for the Impairment or Disposal of Long Lived Assets” and, accordingly, we have reclassified the consolidated financial statements for all periods to reflect this transaction.

 

EXCERPTS ON THIS PAGE:

10-K
Jul 12, 2007
10-K
Mar 13, 2006

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