Tuvalu News


ITworld.com 1/7/02

Scarlet Pruitt, IDG News Service, Boston Bureau
VeriSign Inc. has acquired The .tv Corporation International, holder of the .tv domain name, expanding the digital trust service provider's top-level domain name offerings, the company announced Monday.

VeriSign, whose Global Registry already manages Web addresses in the .com, .net and .org top-level domains, said it completed its US$45 million cash purchase of the company on Dec. 31, 2001. VeriSign already provided registry services and infrastructure support for .tv domains before purchasing the company.

Since 1998, .tv Corporation has been the country manager of the .tv domain name extension for the government of the small Pacific island nation of Tuvalu. Under the terms of the deal, .tv Corporation will remain the .tv country manager, acting as a wholly-owned subsidiary of VeriSign.

VeriSign said that the acquisition will contribute less than $1 million to the company's fourth-quarter 2001 revenues and between $7 million and $10 million in net deferred revenues.

Scarlet Pruitt is a correspondent for the IDG News Service.

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