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VeriSign Acquires Moreover Technologies
- 18 October, 2005 10:15
<p>VeriSign, Inc. (Nasdaq: VRSN), the leading provider of intelligent infrastructure services for the Internet and telecommunications networks, today announced the acquisition of Moreover Technologies, a wholesale aggregator of real-time content for Web sites, search engines and enterprise customers. By combining Moreover’s content aggregation services with VeriSign’s global feed management infrastructure, VeriSign will offer bloggers, publishers, enterprises and Web portals a more intelligent and scalable, real-time content platform.</p>
<p>The new content aggregation services will utilise VeriSign’s ping server infrastructure to increase the reliability and intelligence of its content distribution network. Currently, Moreover aggregates more than 12,000 news sources and millions of blogs. Harvesting information from across 126 countries in 25 languages, Moreover uses an advanced content tagging system with more than 30 metadata tags and 380 categories to deliver hundreds of thousands of unduplicated real-time content articles every day. Customers such as MSN, AskJeeves, and BBC use Moreover’s technology to provide their customers with real-time news and content while hundreds of other enterprises, use the technology to garner real-time information about market and business trends.</p>
<p>“By combining the intelligent content of Moreover’s aggregation services with RSS feeds and the reliability of our ping server infrastructure, VeriSign will provide our customers with a highly relevant source of real-time information,” said Mark McLaughlin, senior vice president and general manager of VeriSign’s Naming and Directory Services. “The new services will make it easier for publishers and bloggers to distribute and track their content, as well as for our enterprise and Web portal customers to improve the reliability and quality of their feeds as the demand for RSS and Blog information continues to grow.”</p>
<p>“Moreover customers are delighted with our ability to rapidly harvest, tag and distribute customised real-time content within minutes,” said James Pitkow, President and CEO of Moreover Technologies. “Our customers not only seek the fastest and most current aggregated content, but they also demand reliable and highly structured data feeds. VeriSign’s intelligent infrastructure will allow us to provide our customers with even greater stability to deliver real-time content so our customers can continue to count on this information as a reliable part of their business communications and applications.”</p>
<p>The price of the acquisition was approximately $30 million in cash and it is being accounted for as a purchase transaction.</p>
<p>Moreover Technologies has 35 employees with offices in San Francisco and London.</p>
<p>Read more about VeriSign Real-Time Publisher Services at: http://www.verisign.com/realtime.</p>
<p>Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the inability of VeriSign to successfully market the combined companies’ services and customer acceptance of the combined companies’ services; the risk that the expected synergies resulting from the combination will not materialise; the incurrence of unexpected costs integrating the businesses; increased competition and pricing pressures; and the inability of VeriSign to successfully develop and market new products and services and customer acceptance of any new products or services. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2004 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statement after the date of this press release.</p>
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