(By Balachander) Verisign Inc. (NASDAQ: VRSN) shares jumped on Thursday after the provider of Internet infrastructure services issued a statement on .com registry agreement.
The Reston, Virginia-based company provided a statement on the pending review by the Department of Commerce of Verisign's .com Registry Agreement renewal with Internet Corporation for Assigned Names and Numbers (ICANN) to serve as the authoritative registry operator for the .com registry.
While the review process with the Commerce Department may extend beyond Nov. 30, 2012, it could also be concluded by Nov. 30, 2012, Verisign said.
In either case, Verisign said it expects to continue to run the .com registry. Verisign believes as of this date, the Department of Justice has substantially concluded its own review process.
Verisign believes that under the terms of Amendment 30 the public interest is served in the security and stability of the DNS and through Verisign's operation of the .com registry. Verisign also believes that under the terms of Amendment 30 the public interest is served by the provision of .com registry services offered at reasonable prices, terms and conditions.
Shares jumped 12.68 percent to trade at $41.77 on Thursday. Over the past year, the stock has been trading in the range of $31.22 to $50.15.