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VeriSign Has a Hacker Issue

In Facebook’s IPO filing, Mark Zuckerberg writes about the “Hacker Way.” Basically, it describes an approach that focuses on innovation and experimentation.

But of course, there are also nefarious hackers — and their approach is just to cause havoc and steal other people’s money. As a result, a multibillion dolllar security software industry has emerged over the years, with companies like Check Point Software (NASDAQ:CHKP), Juniper Networks (NASDAQ:JNPR) and Fortinet (NASDAQ:FTNT).

Yet it’s still incredibly tough to deal with the many threats. For example, according to a piece on Reuters, VeriSign (NASDAQ:VRSN) has suffered from a variety of hacks, which happened during 2010 (senior management didn’t learn of these until September of last year). Keep in mind that the company processes 50 billion daily queries for the domain names it manages.

The extent of the damage? It’s really unclear. Although, there is already buzz that the attacks were launched from another country. Interestingly, the warfare of the future may be fought on the Internet!

But VeriSign’s investors aren’t too concerned. In today’s trading, the stock is up 1% to $37.23.


Article printed from InvestorPlace Media, https://investorplace.com/2012/02/verisign-has-a-hacker-issue/.

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