VeriSign To Divest Some Businesses
A proper track car doesn’t have any unnecessary parts, and to a proper car guy, that means no back seats, no interior trim, and no spare tire. VeriSign is apparently also against the idea of dead weight, as the corporation has announced its plans to divest several businesses.
For whatever’s left, there should be a lot of positive results; after all, it’s the worst-performing branches that are due to be trimmed off. But judging by the number and size of those branches – VeriSign has thus far admitted to having targets “such as communications, billing and commerce” – this comes across as a pretty desperate measure.
In fact, Rafat Ali had something to report that sounded downright scary: “The company said it expects to shut down some of the businesses if buyers aren’t found.” For it to just toss these things away, one can’t help but figure that VeriSign is losing a lot of money on them.
Still, since there have been rumors about this for some time now, the market wasn’t too upset about the development. VeriSign’s stock actually closed up $0.55 (or 1.66 percent) on Wednesday and lost just $.49 today, seemingly demonstrating that weight reduction isn’t just for cars.