Domain Name Payday

By KAREN KAPLAN

Feb. 15, 1999 12 AM PT

Science Applications International Corp. cashed in on the Internet last week to the tune of nearly $780 million. The San Diego-based company sold nearly 4.6 million shares of domain name registrar Network Solutions at a share price of $170 in the Herndon, Va.-based firm’s secondary offering. SAIC bought Network Solutions in 1995, and last week’s sale reduced its stake in the company from 72% to 45%, said Network Solutions spokesman Christopher Clough. By week’s end, Network Solutions shares fell to $158.88 in Nasdaq trading.

Technology and the Internet Business

Karen Kaplan

Karen Kaplan covers science and medical research for the Los Angeles Times. She has been a member of the science team since 2005, including 13 years as an editor. Her first decade at The Times was spent covering technology in the Business section as both a reporter and editor. She grew up in San Diego and is a graduate of MIT and Columbia University.

Domain Name Payday

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