This excerpt taken from the VRSN 8-K filed Mar 6, 2009.
VeriSign Sells Communication Services Group to TNS, Inc. for $230 Million Cash
MOUNTAIN VIEW, Calif.March 2, 2009VeriSign, Inc. (NASDAQ: VRSN) today announced the sale of its Communication Services Group to Reston, Va.-based TNS, Inc. (NYSE: TNS), in a cash transaction of $230 million. The transaction is expected to close within the next 60 days, subject to customary regulatory approvals and successful financing.
The sale of the Communications Services Group is another important step toward our divestiture goals as we continue our commitment and focus on our core businesses in Internet infrastructure, said Jim Bidzos, executive chairman of the board of directors, and chief executive officer on an interim basis of VeriSign.
Morgan Stanley & Co. is serving as financial advisor to VeriSign with respect to the transaction. VeriSign is receiving legal advice from Cleary Gottlieb Steen & Hamilton LLP.