SAN JOSE, Calif.--Nov. 21, 2005--PayPal, an eBay company (Nasdaq:EBAY)(www.ebay.com), completed its previously announced acquisition of VeriSign's payment gateway business.
In accordance with the terms of the acquisition agreement as announced on Oct. 10, 2005, PayPal acquired VeriSign's payment gateway business for approximately $370 million in cash, plus acquisition costs.
The acquisition does not impact the guidance that eBay provided in its earnings announcement on Oct. 19, 2005. The estimated outlook for the payment gateway business is already reflected in eBay's guidance for the fourth quarter of 2005 and the full year 2006.
VeriSign, Inc. (Nasdaq:VRSN), operates intelligent infrastructure services that enable and protect billions of interactions every day across the world's voice and data networks. Additional news and information about the company is available at www.VeriSign.com.
Founded in 1998, PayPal, an eBay company, enables any individual or business with an email address to send and receive payments online securely, easily and quickly. PayPal's service builds on the existing financial infrastructure of bank accounts and credit cards and uses one of the world's most advanced proprietary fraud prevention systems to create a safe, global, real-time payment solution. PayPal has more than 86 million accounts and is available to users in 55 markets around the world. More information about the company can be found at https://www.paypal.com
Founded in 1995, eBay pioneers communities built on commerce, sustained by trust, and inspired by opportunity. eBay enables ecommerce on a local, national and international basis with an array of websites -- including the eBay Marketplace, PayPal, Kijiji, Rent.com, Shopping.com and Skype -- that bring together millions of buyers and sellers every day.
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