Network Solutions SOLD

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Network Solutions SOLD

to Pivotal Private Equity

MarkHutch

2:43 pm on Oct 16, 2003 (gmt 0)

From an email I just received.

Today VeriSign, Inc. announced that it has entered into a definitive agreement to sell Network Solutions to a new entity formed by Pivotal Private Equity.

[verisign.com...]

[edited by: MarkHutch at 2:46 pm (utc) on Oct. 16, 2003]

bcolflesh

2:45 pm on Oct 16, 2003 (gmt 0)

Interesting - that's the same outfit that purchased Pacific Crossing Ltd earlier this year.

lazerzubb

2:53 pm on Oct 16, 2003 (gmt 0)

Bet you we will see SiteFinder return quicker that h*** now.

Chndru

2:56 pm on Oct 16, 2003 (gmt 0)

Bet you we will see SiteFinder return quicker that h*** now.

here: [webmasterworld.com...]

MarkHutch

3:05 pm on Oct 16, 2003 (gmt 0)

I think this "sitefinder" thing isn't fair. I can't believe they are doing this again.

EliteWeb

4:20 pm on Oct 16, 2003 (gmt 0)

So is the group they are selling to known? Or is it a company started by them to seperate the two entities a little?

pleeker

5:14 pm on Oct 16, 2003 (gmt 0)

I think it's important to emphasize that they're only selling the domain registration business. Verisign will still control the infrastructure -- including the .com and /net registries.

And they'll still have a 15% stake in Network Solutions.

satanclaus

5:30 pm on Oct 16, 2003 (gmt 0)

VeriSign has really been coming off as a bottom feeder as of late.

Lisa

7:10 pm on Oct 16, 2003 (gmt 0)

NetSol = $100M

So it would stand to reason that other registrars have to be worth less.
So why does Register.com have a market cap of 192.71M?

I think NetSol was a steal at $100M.

Clark

9:24 pm on Oct 16, 2003 (gmt 0)

I can't believe that figure for a company that has been trying to "steal" the whole internet and have been quite successful at it. [sarcasm]They probably sold to their mob bosses in the Cayman Islands[/sarcasm]. That's why they are getting such a great deal.

NFFC

9:28 pm on Oct 16, 2003 (gmt 0)

>I think NetSol was a steal at $100M.

Wierd! Why wouldn't you think that Register.com was overvalued?

Clark

9:35 pm on Oct 16, 2003 (gmt 0)

siteSTEALER alone was worth 75 million a year in sales, wasn't it? True they won't be able to keep it permanently, but I just find it hard to believe that 100 million for all they "do" is the most they can scrape up...

Lisa

10:25 pm on Oct 16, 2003 (gmt 0)

7,000,000 domains times $30 a customers is 21,000,0000 a year in income. That is five years income of the largest company in the industry. Then the new owners have a money engine.

Remember when NetSol was bought by Verisign for something like $20 BILLION! Now the registrar part is only worth $100M. RCOM must hate this... It shows that they must be worth less then $100M. Way over valued RCOM is going to drop on this.

nativenewyorker

10:51 pm on Oct 16, 2003 (gmt 0)

Lisa,

RCOM closed trading today at $4.72. According to their recent financials, they had $4.40 per share in cash on their books with zero debt. Essentially, you are buying their business for 32 cents per share or about $13 million after you subtract the cash from the market capitalization. Definitely a bad idea to be shorting this one. If anything, this stock is now in play.

Ted