ICANN Approves Net Address Deal to Increase Competition

By KAREN KAPLAN

Nov. 5, 1999 12 AM PT

TIMES STAFF WRITER

The Internet Corp. for Assigned Names and Numbers approved an agreement Thursday that will give it oversight of the system for registering Internet addresses and will allow more competition in this lucrative--and one-time monopoly--business.

The ICANN board’s approval marks the final step in ratifying an agreement that had already been signed by the Clinton administration and Network Solutions Inc., the dominant company that has registered more than 6 million Internet addresses under an exclusive government contract.

Herndon, Va.-based Network Solutions has generated more than $20 million in profit so far this year by registering Internet addresses ending in “.com”, “.net” and “.org”.

The agreement, approved in Los Angeles, lays out plans for NSI competitors to sign up Internet addresses for business clients, organizations or individuals. It also loosens the U.S. government’s hold on the Internet.

Despite the prospects of competition, analysts still expect NSI to dominate the Internet address industry. On Thursday, its shares rose $13.63 to close at $138.38 on Nasdaq.

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.

ICANN Approves Net Address Deal to Increase Competition

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