VeriSign to Keep Only Its ‘.com’ Registry

VeriSign Inc., which registers Web site addresses, agreed to give up control of Internet domain names ending in .net and .org in return for the right to manage the .com registry through at least 2007.

The news sent VeriSign shares up $6.31, or 13%, to close at $54 on Nasdaq. A previous agreement had allowed VeriSign to manage the entire Web-address database until 2007 if it spun off its business that sells addresses by May 10. Without the spinoff, VeriSign would have had to give up the database in 2003.

The proposal means VeriSign can keep collecting $6 a year for each of the 22 million existing .com addresses. Managing the database also gives it data it can use to sell services, such as online payment processing.

The accord requires approval by the Commerce Department.