VeriSign plans divestiture of many businesses

VeriSign Inc, which runs the infrastructure that directs most of the world's Internet traffic, said on Wednesday it plans to divest several businesses and focus on its Web-site-naming and Internet security services.

Businesses targeted for divestiture include VeriSign's communications, billing and commerce units, the company said. Once the strategy shift is completed, the company expects revenue growth, profit margins and net income "will be higher."

The company did not detail the timing of the strategic shift, its cost or how many jobs would be affected.

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- Posted: 2007-11-14 10:24:10

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