Verisign is exploring the sale of its Moreover and Weblogs assets, we’ve confirmed from a source with knowledge of the sale process. Both businesses were acquired in October 2005 – Moreover for an estimated $25 million and Weblogs for an undisclosed but significantly smaller amount.
We had previously heard rumors that Verisign was in negotiations to sell the assets, which have been combined into the Real-Time Publisher Services business unit, to the Associated Press in connection with a settle agreement over the AP’s 2007 copyright and trademark infringement lawsuit against Verisign. However, that litigation was settled last month without any agreement over the RTP assets.
Now Verisign is offering the business unit to a wider group of potential buyers. In an offering document we’ve obtained, Verisign reports business unit revenues of $6.5 million in 2005, growing to an estimated $8.8 million in 2008.
Verisign continues to restructure its core business under new CEO Jim Bidzos.