SiliconBeat

True to plan, VeriSign founder Jim Bidzos said today that he’s handing over the reins to a new CEO at the Mountain View company, which manages the naming infrastructure for Internet domains like .com and .net, and also sells online security and identity verification services.

The new CEO is Mark McLaughlin, a VeriSign veteran who’s been serving as president and chief operating officer since January. Bidzos had agreed last summer to serve as interim chief executive after former CEO William Roper resigned unexpectedly.

Bidzos has been overseeing an effort to divest a number of unrelated operations, including telecom routing and other services that the company decided were too far afield from its core businesses. He said today that VeriSign has sold 11 of the 13 “non-core businesses” that it has wanted to spin off.

Also today, the company reported a profit of $35 million on revenue of $257 million in its most recent quarter, coming in slightly better than analysts had expected for sales but slightly below analysts’ predictions for earnings per share.

VeriSign’s board also gave acting CFO Brian Robins the formal title of executive vice president and chief financial officer. Bidzos will remain executive chairman.

We interrupt your iPhone fun for a brief message.

All iPhone play and no security can make the pocket computer a dangerous toy.

VeriSign, a provider of Internet infrastructure services, announced today it is releasing a security app for the device.

Its VIP Access for Mobile application, which is free to consumers through Apple’s online App Store, installs a one-time-password credential on the phone. It can be used along with a username and password to increase security of online accounts.

The authentication service can be used at dozens of Web sites, including eBay, PayPal and AOL, which pay a fee of $3 to $10 per account, according to a VeriSign spokeswoman.

OK, you can get back to gaming.

Less than a month after being announced, VeriSign’s proposed acquisition of content-protection supplier Certicom has been terminated after the Canadian company said it found a better deal elsewhere.

On January 23, VeriSign announced an agreement between the companies under which VeriSign was to buy all the outstanding shares of Certicom for about Read the rest of this entry »

VeriSign filed details of the compensation package being given to founder James Bidzos, who returned to the company as its interim chief executive at the end of June. His annual salary was set at $900,000, half of which is guaranteed for six months, regardless of whether a permanent CEO is hired.

Bidzos also received a grant of restricted stock worth $4 million when they were approved Aug. 4. The stock vests quarterly over a one-year period, no matter what.

VeriSign shares plunged 12.7 percent yesterday after the Internet infrastructure company reported a wider second-quarter loss as it absorbed the costs of a major reorganization. The drop may have helped hasten a move by the company’s board authorizing a stock buyback of $680 million worth of VeriSign shares.

VeriSign’s founder and original chief executive, Jim Bidzos, was named interim chief executive and chairman of the board, according to an SEC filing Thursday. He replaces William Roper, who resigned Monday after just over a year as CEO and after five years as a director.

Roper’s resignation was voluntary, Bidzos told analysts today on a conference call. “I don’t think it was fair Read the rest of this entry »

VeriSign has agreed to sell its facilities at 675 and 685 E. Middlefield Road in Mountain View. The buildings make up 159,000 square feet of the 290,000 square feet the company now owns and occupies as its headquarters on East Middlefield Road, according to an SEC filing Wednesday.

The buyer, listed as PR III Middlefield Road, will pay $49 million for the property upon completion of its due diligence review, and may terminate the sale for any or no reason.

VeriSign has agreed to lease back the properties for 30 months after the sale is completed, which is expected to take place later this month, paying $12.5 million or about $2.62 per square foot per month. Verisign will also have the option to extend the lease for five more years when it expires.