In 1995 Emmit sold Network Solutions to Science Applications International Corp or SAIC for 4.8 million plus personal and business debt.
In a few months the government gives SAIC the rights to charge $70.00 per year for each domain name plus royalty on any other created domain names, the same request Emmit wanted. With millions of people and companies requesting domain names there was a bidding war to buy this new cash cow SAIC acquired.
A Wall Street Company name VeriSign Inc. was the winner. SAIC flip the newly purchase 4.8 million company to VeriSign Inc for $21 Billion within a year.”