Verisign Inc.’s stock was up nearly 17 percent Friday on word of an amended deal with the U.S. Department of Commerce under which the Reston-based company will continue to operate the .com registry and be allowed to pursue annual price hikes for domain name registrations.
Through the amendment to the cooperative agreement, the National Telecommunications and Information Administration repealed price controls, permitting Verisign (NASDAQ: VRSN) to seek price increases on wholesale .com registrations with the Internet Corporation for Assigned Names and Numbers, or ICANN. Verisign, under the six-year agreement, will be allowed to request price hikes of up to 7 percent per year, beginning in two years.
The now-lifted pricing regulations, instituted during the Obama administration, are referred to as “unnecessary and burdensome” in the resolution. The amended agreement requires that Verisign continue to operate the .com registry in a “content neutral manner.”
Verisign, which acquired…Read the full story from the Washington Business Journal.