VeriSign, Inc. provides domain name registry services and Internet security, enabling Internet navigation for the recognized domain names and providing protection for Websites and enterprises around the world (Registry Services). The company’s Registry Services ensure the security of main Internet infrastructure and services, including the .com and .net domains, two of the Internet’s root servers, and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS). The company’s product suite also includes Network Intelligence and Availability (NIA) Services consisting of Distributed Denial of Service (DDoS) Protection Services, Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services. The company has operations inside, as well as outside the United States (U.S.). Naming Services Registry Services Registry Services operates the authoritative directory of all .com, .net, .cc, .tv, and .name domain names and the back-end systems for all .gov, .jobs and .edu domain names, among others. Registry Services allows individuals and organizations to establish their online identities, while providing the secure, always-on access they need to communicate and transact reliably with large-scale online audiences. The company is the exclusive registry of domain names within the .com, .net and .name generic top-level domains (gTLDs) under agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and also, with respect to the .com agreement, the U.S. Department of Commerce (DOC). As a registry, the company maintains the master directory of all second-level domain names in these TLDs. The company’s global constellation of domain name servers provides Internet Protocol (IP) address information in response to queries, enabling the use of browsers, email systems, and other systems on the Internet. In addition, the company owns and maintains the shared registration system that allows all registrars to enter new second-level domain names into the master directory and to submit modifications, transfers, re-registrations and deletions for existing second-level domain names (Shared Registration System). With its existing gTLDs and ccTLDs, the company also provides internationalized domain name (IDN) services that enable Internet users to access Websites in characters representing their local language. NIA Services NIA Services provides infrastructure assurance to organizations and is comprised of iDefense, Managed DNS and DDoS Protection Services. DDoS Protection Services supports online business continuity by providing monitoring and mitigation services against DDoS attacks. The company helps companies stay online without needing to make significant investments in infrastructure or establish internal DDoS expertise. Customers include financial institutions and e-commerce providers. iDefense provides 24 hours a day, every day of the year, access to cyber intelligence related to vulnerabilities, malicious code, and global threats. The company’s teams enable companies to improve vulnerability management, incident response, fraud mitigation, and proactive mitigation of the particular threats targeting their industry or global operations. Customers include financial institutions, large corporations, and governmental and quasi-governmental organizations. Managed DNS is a hosting service that delivers DNS resolution, improving the availability of Web-based systems. It provides DNS availability through a globally distributed, securely managed, cloud-based DNS infrastructure, allowing enterprises to save on capital expenses associated with DNS infrastructure deployment. Managed DNS service provides full support for DNS Security Extensions (DNSSEC) compliance features and Geo Location traffic routing capabilities. DNSSEC is designed to protect the DNS infrastructure from man-in-the-middle attacks that corrupt, or poison, DNS data. Customers include financial institutions, e-commerce, and software-as-a-service providers. Seasonality Historically, the company has experienced higher domain name growth in the first quarter of the year compared to other quarters. The company’s quarterly revenue does not reflect these seasonal patterns because the preponderance of its revenue for each quarterly period is provided by the ratable recognition of its deferred revenue balance. The effect of this seasonality has historically resulted in the largest amount of growth in its deferred revenue balance occurring during the first quarter of the year compared to the other quarters. Sales and Marketing The company markets its NIA Services worldwide through multiple distribution channels, including direct sales and indirect channels. The company has marketing and sales offices throughout the world. Research and Development During 2014, the company’s research and development expenses included $67.8 million. Intellectual Property The company has obtained trademark registrations for the VERISIGN mark and new VERISIGN logo in the U.S. and certain countries, and have pending trademark applications for the new VERISIGN logo in other countries. Competition Competition in Registry Services: The company’s competitors include Neustar, Inc.; Afilias Limited; ARI Registry Services; Donuts Inc.; and RightSide Inc. Competition in NIA Services: The company faces competition in the network intelligence and availability services industry from companies or services such as iSight Partners; IBM X-Force; Secunia ApS; Dell SecureWorks; McAfee, Inc.; Akamai Technologies Inc. (including their acquisition of Prolexic Technologies, Inc.); AT&T Inc.; Verizon Communications, Inc.; Dyn, Inc.; Neustar, Inc.; OpenDNS; BlueCat Networks, Inc.; Infoblox Inc.; Nominum, Inc.; and Afilias Limited. History VeriSign, Inc. was founded in 1995. The company was incorporated in Delaware in 1995.
(VRSN:Consolidated Issue Listed on NASDAQ Global Select )
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