VeriSign Announces EMEA Channel Strategy and Recruitment Drive
London, UK and Munich, Germany – September 15, 2008 – Continuing its commitment to consumer and enterprise authentication and fraud protection, VeriSign, Inc. (NASDAQ: VRSN), the trusted provider of Internet infrastructure services for the networked world, today launched a new channel program. The programme is aimed at extending the reach of its PKI, Authentication, and Fraud Detection Services throughout Europe, the Middle East and Africa (EMEA). In support of the new channel strategy that the company has committed to, it has appointed two channel managers for the region.
VeriSign is pleased to introduce industry veterans, Nik Churchley and Karl Buffin, who will drive recruitment of new partners, while continuing to manage relationships with accredited partners. The combined effort will enable VeriSign and its partners to pursue the rapidly growing consumer and enterprise authentication markets. According to IDC, the Identity and Access Management (IAM) market will grow to over $5 billion in revenues by 2012. Many organisations are expected to turn to IAM services and SaaS delivery models, signaling that businesses plan to invest millions in solutions that provide businesses and consumers with smarter, more comprehensive safeguards for their online transactions.
The company plans to recruit at least one anchor partner for each geography, adding to its current base of ten partners across EMEA. The current focus for partner recruitment is in the UK, Germany, France, Spain and Italy. VeriSign is looking for partners with solid relationships in the financial, retail, social networking and gaming sectors. Partners will have experience selling large deals with significant services revenue. In addition, they will have Web application knowledge and experience in selling managed services.
VeriSign's new program offers members a range of benefits, including a designated partner account manager, training and tools that help members kick start their relationship with VeriSign, co-marketing efforts to develop new business opportunities, and sales leads and support designed to help partners close more sales. For more details on the program, visit http://www.verisign.com/vip-channel-program
"VeriSign's new channel programme provides a terrific opportunity for us to drive new business and establish lasting relationships with customers by delivering services that carry the trusted VeriSign brand," said Panos Vassiliadis, General Manager at ADACOM S.A. "Having worked with VeriSign for the last eight years, we've enjoyed the range of benefits and support that we get from them. We're looking forward to the additional support, commitment and benefits of the new programme."
"To seize the market opportunities, VeriSign recognises the need to grow its internal team and work with established channel partners who are experts within their niches and geographies," said John Jacob, vice president of Global Channels at VeriSign. "The new channel model provides a compelling mix of resources and rewards that allows partners to generate significant revenues and grow their customer base. The profit margins are excellent and a reflection of the resources and commitment we expect from our partners. In return, we're looking forward to having the ability to efficiently scale our presence by leveraging the expertise of channel partners."
For enterprises and consumers accessing account-based online applications, VeriSign Identity and Authentication Services (IAS) is a comprehensive suite of authentication and encryption services that helps protect identities, sensitive data and achieve regulatory compliance. Based on open standards, the IAS Suite is a service-based model that drives innovation and lowers cost of deployment and maintenance. The suite is comprised of solutions for Consumer Authentication, Enterprise Authentication, Government Authentication and Authentication for Individuals.
VeriSign, Inc. (NASDAQ: VRSN) is the trusted provider of Internet infrastructure services for the networked world. Billions of times each day, VeriSign helps companies and consumers all over the world engage in communications and commerce with confidence. Additional news and information about the company is available at www.verisign.com.
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Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the inability of VeriSign to successfully develop and market new products and services and customer acceptance of any new products or services, including VeriSign Identity Protection services and solutions; the possibility that VeriSign's announced new services may not result in additional customers, profits or revenues; and increased competition and pricing pressures. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2007 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.
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