VeriSign to control .net domains for next 6 years

VeriSign to control .net domains for next 6 years

More than a year after the bidding process started, ICANN (Internet Corporation for Assigned Names and Numbers) has finally given its approval to VeriSign to manage the .net domains for the next 6 years. The bidding process started in March 2004. VeriSign is based in Mountain View, California and they would now be handling this popular top-level domain (TLD).

They overcome the challenge posted by four other companies: Afilias, Denic, Sentan Registry Services Co. and CORE++. .net is the third most popular type of domains on the Internet. VeriSign in a statement released to the media said: “We’re gratified our track record operating .net has been recognized, however, we don’t intend to rest on our laurels. We intend to work with the entire Internet community to continue to strengthen the .net infrastructure by raising the bar on its reliability, stability, and global reach.”

The independent evaluator involved in selecting the best company out of the bidders Telcordia produced their report before the board of directors of the ICANN. One of the competing companies in the process, Afilias was disappointed at the end result as their spokesperson said in a statement: “We believe our registry services offering is one of the best in the market — as our customers will testify. Neither the original nor final reports reflects that reality.”

This contract would cost the VeriSign Company USD 132000 for the first year. The amount increases by 15% every year from next year. They would be taking over the control of the domain names from July 1.