Tech Dealmaker Awards

In September 2006, Mountain View, Calif.-based VeriSign Inc. bought for $125 million GeoTrust Inc., a Needham-based developer of network-security and identification technologies.

The privately held GeoTrust developed SSL software and technologies that helped secure Internet-based transactions and communications. The firm, founded in 1998, had raised more than $40 million in venture capital. Prism Venture Partners in Westwood and Castile Ventures in Waltham are among the local venture capital firms that backed the company.

GeoTrust employed about 50 workers and supported more than 3,000 business customers in 140 countries.

At the time, the publicly traded VeriSign employed more than 4,000 workers.

VeriSign, which was spun out of Bedford's RSA Security Inc. in 1995, has acquired other New England tech companies such as Watertown’s M-Qube Inc., which VeriSign bought in 2006 for $250 million. In 2004, it bought for $140 million Guardent Inc., a Waltham firm that managed corporate network security systems.

Creighton, who is now the CEO of Boston’s RatePoint Inc., said the VeriSign deal was particularly satisfying because GeoTrust’s technology and brand would continue to have far-reaching presence on the web under its new owner.

“This company was like raising a child for me,” he said. “I think the good thing was they we were serving a lot transactions on the Internet. I see the GeoTrust brand is still out there and growing. I’m just really happy to see it go on. The GeoTrust name will be out there a long time with VeriSign.”

Category

Top Software/Services M&A Deals Sell Side

The Deal

VeriSign Inc. acquired Internet security competitor GeoTrust Inc. for $125 million. Closed on Sept. 5, 2007.

Key Executives

Neal Creighton, founder and CEO of GeoTrust; Matt Engle, director of business development, GeoTrust; Judy Lin, executive vice president of VeriSign’s security services group.

Deal advisers

Legal: Wilmer Cutler Pickering Hale and Dorr.

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