VeriSign rallies after reaching renewal agreement with ICANN

VeriSign (VRSN) and the Internet Corporation for Assigned Names and Numbers, or ICANN, entered into the renewal of the .com registry agreement, which amends and restates in its entirety the .com registry agreement, dated December 1, 2012, as amended on October 20, 2016, March 27, 2019, and March 27, 2020. The agreement is effective as of December 1, 2024. “The agreement includes certain new provisions to better align the agreement with ICANN’s Base Registry Agreement, including permissible increases based on the U.S. Consumer Price Index in the domain name transaction fees that the Company pays to ICANN, obligations related to mitigation of Domain Name System abuse, and service level requirements for the Registration Data Access Protocol. The Agreement also contains new commitments to enhance the security, stability and resiliency of the .com Top-Level Domain, including new security incident reporting commitments and obligations for the parties to discuss business continuity. There are no changes to the provision governing the price that the Company charges for .com domain names,” VeriSign disclosed earlier. The stock in morning trading is up 4% to $192.65.