Cleary Gottlieb represented VeriSign, Inc. in the sale of its Digital Brand Management Services (DBMS) business to Australian listed company Melbourne IT, Ltd. The transaction closed on April 30, 2008.
DBMS provides domain name management, global brand expansion services and digital brand monitoring solutions that permit companies to protect and promote their digital brands around the world.
The DBMS sale is part of VeriSign’s divestiture plan, which calls for the disposal of a number of non-core businesses in its portfolio in order to focus on VeriSign’s key competencies.
VeriSign is a NASDAQ-listed company with a market capitalization of approximately $7 billion. VeriSign operates infrastructure services that enable and protect billions of interactions every day across the world’s voice, video and data networks. After completion of its divestiture program, VeriSign’s core businesses will include Naming Services, Secure Socket Layer (SSL) Certificate Services, and Identity and Authentication services.
