MOUNTAIN VIEW, CA. -- VeriSign, Inc. (Nasdaq: VRSN), the leading provider of intelligent infrastructure services for the Internet and telecommunications networks, today announced the acquisition of Retail Solutions, Inc. (RSI), a leading provider of operational point-of-sale (POS) data to the retail industry.
The addition of RSI’s customers and core technology to VeriSign’s Intelligent Supply Chain Services platform extends the growing role VeriSign’s scalable, secure infrastructure is playing in the $8 trillion worldwide supply chain. Operational POS data provides detailed information about the volume and value of product sales through retailers, and is increasingly being combined with other “demand data” and new technologies such as RFID to increase sales and reduce costs, benefiting both retailers and their suppliers. In conjunction with the acquisition of RSI, VeriSign also announced today (www.verisign.com/wwre) an agreement with the World Wide Retail Exchange (WWRE) to deliver POS services through WWRE’s global platform, enhancing store-level visibility to thousands of retailers and suppliers worldwide.
RSI counts more than 130 industry leaders as customers, including Unilever and GlaxoSmithKline. The RSI platform provides these customers with a secure, single point of access to POS data from over 30 key retailers. The addition of this capability to the existing VeriSign Intelligent Supply Chain Services platform increases the scope of services VeriSign offers to retail supply chain participants and enhances the infrastructure VeriSign has been developing in the RFID/EPC and pharmaceutical supply chain markets to deliver real time, relevant data for decision making.
“VeriSign is increasingly working to leverage its strengths – secure, scalable infrastructure - to provide value to customers and partners in the supply chain,” said Ann Grackin, chief executive officer of ChainLink Research. “With the addition of POS data services, VeriSign has taken a big step forward in this area. Both end users and solutions providers in the retail space can now leverage the VeriSign platform for streamlined access to critical information that today must be gathered from many different sources and in many different formats.”
“RSI is a great addition to VeriSign’s critical infrastructure in the global supply chain,” said Mark McLaughlin, senior vice president of VeriSign’s Naming and Directory Services. “The retail industry is increasingly looking for new avenues of visibility from manufacturing plant to store floor, and demand data – including POS information – is a critical component. With the addition of RSI, we add over one hundred customers and billions of streamed data records to our platform.”
RSI has approximately 50 full-time employees and offices in Lincoln, Rhode Island.
The price of the acquisition was approximately $24 million in cash and it is being accounted for as a purchase transaction.
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