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VRSN > SEC Filings for VRSN > Form 8-K on 12-Feb-2009All Recent SEC Filings

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Form 8-K for VERISIGN INC/CA


12-Feb-2009

Termination of a Material Definitive Agreement


Item 1.02 Termination of a Material Definitive Agreement.

On February 10, 2009, the arrangement agreement (the "Agreement") that was entered into by VeriSign, Inc. (the "Company") and Certicom Corp., a corporation continued under the laws of Canada ("Certicom"), on January 23, 2009, was terminated. Pursuant to the Agreement, the Company had agreed to acquire all of the outstanding shares of Certicom for an aggregate purchase price of approximately US$73 million (US$40 million, net of Certicom's existing cash balance and short-term marketable securities).

Certicom terminated the Agreement in order to accept a superior acquisition proposal from a third party, as determined by Certicom's Board of Directors. Certicom has paid a termination fee of approximately US$3.3 million (equivalent to C$4 million, at then-current exchange rates) to the Company, pursuant to the terms of the Agreement.


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