A new customer self-care and billing analytics vendor called Globys is spinning off from VeriSign, as a result of the latter's much-anticipated restructuring to focus on other business areas. Executives at the former VeriSign unit essentially are taking it private with the help of funding from Trilogy Partnership and Duff Ackerman & Goodrich. Globys largely consists of assets and employees from CallVision, a company that VeriSign acquired in 2006, and already has several large carrier customers.
Seattle-based VeriSign had built a name for itself in Internet domains, security and transaction support, but expanded into several other sectors through a long stretch of mergers and acquisitions. It later suffered through an investigation into stock option practices. Late last year, it committed to re-focus itself on domain and security services, and to exit other markets. The privatization of Globys will help.
- read this report at Telephony
- VerSign last November announced its effort to re-focus on core businesses. VeriSign report