eBay’s PayPal to Buy VeriSign Unit for $370 Million
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Online auctioneer, eBay Inc. is on an acquisition roll, but at least this one make sense. The company just announced it was snapping up the online payment arm of VeriSign for $350 million - a sharp bargain when compared to the up to $4.1 billion it shelled out for Skype. Our Question: What will VeriSign be without this piece?
“eBay Inc. will buy VeriSign’s payment processing business for $370 million and merge it with its PayPal unit as part of a wider e-commerce payment services and security alliance, the companies said on Monday. The move was seen as letting PayPal, already the largest online payments company, expand faster beyond its core audience of eBay-based transactions and to compete better with credit cards as an online-payment system, analysts said.”
