Fenwick & West LLP represented VeriSign (Nasdaq: VRSN) in the recently announced sale of its payment gateway business to PayPal, an eBay company (Nasdaq: EBAY). PayPal will pay approximately $370 million to purchase VeriSign's payment gateway business. The transaction is subject to regulatory approvals and closing conditions, and is expected to close in the fourth quarter of 2005.
More information about the transaction can be obtained from the VeriSign Web site.
The Fenwick & West transaction team consisted of corporate attorneys: Jeffrey Vetter, Gregory Roussel, Yoonie Chang, Blake Martell, Jennifer Hill; IP attorneys Lisa Kenkel, Mark Ostrau, Michael Farn, Morgan Fong, Michael Blum; litigation attorney Daniel McCoy; and tax attorneys Ronald Schrotenboer and Timothy Fitzgibbon.
Fenwick & West provides comprehensive legal services to high technology and life sciences clients of national and international prominence. The firm was ranked byMergerMarket as the #1 U.S. Legal Advisor for Technology Industry M&A in 2004.