Security business to Neustar for up to $120 million — Verisign sells

The .com registry sends security business to Neustar.

Verisign (NASDAQ:VRSN) has sold its Security Services business to rival registry provider Neustar for up to $120 million.

The deal is for $50 million up front and a contingent amount of up to $70 million due on the first anniversary. The contingent payment is based mostly on successfully transitioning clients to Neustar over the 12-month period following closing.

Verisign’s Security Services business includes DDoS protection, managed DNS, DNS Firewall and recursive DNS services.

With this exit, Verisign will now focus solely on internet naming and related services