VeriSign says U.S. approves .com contract

VeriSign Inc., the main manager of the Internet address database, said the Commerce Department approved a contract extending its control over websites ending in .com for six more years. Its shares rose 7.5%.

The contract, negotiated between VeriSign and the Internet Corp. for Assigned Names and Numbers, allows the Mountain View, Calif., company to raise prices four of the next six years.

The agreement ends a delay in signing the contract, after customers complained that the corporation awarded the business without a competitive bid.

VeriSign shares advanced $1.82 to $26.09.