Stock Watch: VeriSign Eyes Canada

Shares of Internet infrastructure/security company VeriSign (Nasdaq: VRSN) (Nasdaq: VRSN) rocketed up 5-13/16 to an all-time closing high on 100-11/16 on Tuesday after the company announced that it is working toward launching new e-commerce services in Canada. VeriSign will work on these new services with two new partners: VPN Tech, a Canadian company that provides secure electronic commerce solutions; and LGS Group, a global technology and management consulting company.

VPN Tech and LGS Group join a select group of companies that are partnered with VeriSign. The company's other partners include Visa, AT&T (NYSE: T), Microsoft (Nasdaq: MSFT), America Online, Netscape, Cisco Systems and Oracle (Nasdaq: ORCL). VeriSign's customers include Visa, AT&T, Dow Jones, NationsBank Novus/Discover, Ameritech and Morgan Stanley Dean Witter.