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Soaring ID Theft Propels These 3 Security Companies

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3 Security Companies: VeriSign (VRSN)

It seems you can’t buy anything online or bank online without seeing the VeriSign check mark somewhere on a website. Via your browser, this leader in website identification and encryption allows you to confirm a website’s identity before transmitting any personal information by clicking on the VeriSign logo. VeriSign uses 128-bit encryption to scramble personal information and stays that way as it moves through the Internet.

Verisign also operates the infrastructure for all the top-level domain names (.com, .net, .edu, .gov and others) and manages and protects DNS infrastructure for 121 million of them. The company raked in nearly $1 billion in revenue last year from .com and .net registration fees through a contract with the Department of Commerce that runs through 2018.

The Warren Buffett-owned stock reported revenue of $246 million for the fourth quarter of 2013, up 7% from the same quarter a year ago, and the company is looking forward to a strong 2014.

Article printed from InvestorPlace Media,

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