EBay Acquiring VeriSign Processing for $370 Million 123
Forum124 was one of the first in a wave of readers to tell us that eBay is acquiring VeriSign's payment processing business for US$370 million. VeriSign will be merged with PayPal and is estimated to generate a 20 percent operating margin which eBay hopes to help offset the recently reported high purchase price of Skype.
Just a little warning about PayPal (Score:4, Informative)
www.paypalwarning.com (notice that this site hasn't been taken down due to libel)
www.paypalsucks.com (ditto)
Habitual VeriSign customers using VeriSign to collect payments may be wise to abandon ship.
just payment processing.. (Score:5, Informative)
which explains why the sum might seem low to some.
Wrong wrong wrong. (Score:4, Informative)
EBay is buying one DIVISION of Verisign, not the whole company.
email from Verisign CEO Stratton Sclavos (Score:5, Informative)
Dear Colleagues,
Today, VeriSign took another step forward on our Journey--this time with a respected technology leader and trusted partner, eBay. VeriSign and eBay have formed a strategic alliance that calls for our two companies to collaborate globally on payment services and security initiatives for e-commerce.
This alliance brings together two leaders in online commerce and security to benefit customers and merchants with greater protection, improved technologies, and more streamlined payment processing.
As part of the alliance, PayPal, an eBay company, will acquire our Payment Gateway assets and combine them with their leading merchant services platform. Additionally, we will provide eBay and PayPal with a suite of security services that includes the deployment of the VeriSign Unified Authentication service and up to one million two-factor authentication tokens to be rolled out in 2006. The deployment of VeriSign Unified Authentication will cut across all eBay companies, and we believe it will constitute the largest consumer authentication deployment in history. Please see the fact sheet for details.
Along with our Payment gateway assets, eBay will also be integrating the majority of our Payment Services employees into PayPal, and will be moving them to eBay's San Jose, California campus. I want to thank all of our Payment Services employees for their hard work and incredible results in building this successful business, and for contributing to a strategic alliance that will support the VeriSign mission to enable and protect all forms of digital interactions over the world's voice and data networks.
Sincerely,
Stratton
RTFA - EBay not acquiring VeriSign (Score:5, Informative)
ICANN (Score:1, Informative)
Re:Uh-oh (Score:5, Informative)
Re:Just a little warning about PayPal (Score:2, Informative)
The code does, at least. The Linux SDK is closed-source, and their customer support has the NERVE to say it's for "security". Bullshit. Bullshit. Bullshit.
Do you use PPC? AMD64? Sorry, you need to use the Java version. Bah.
Re:Uh-oh (Score:5, Informative)
Good clarification. Except :
Security Services (formerly RSA)
This was a RSA spin-off, and was not a part of RSA Security Inc. The Security Service that Verisign provides (and was the core of their original business) is that of a managed PKI service, Root CA signing, S/MIME certificates and code-signing.
not to mention Jamba (Score:5, Informative)