The US government has struck a deal with Verisign which will freeze the price of new .com domains for at least six more years.
The US Department of Commerce said that the price cap will come as part of an extended contract which gives Verisign control over the .com top level domain. The deal, which had been set to expire at the end of November, will now run through 30 November 2018.
Under the deal, users will be able to purchase new domains at a cost of $7.85. Verisign will not be allowed to raise the price over the duration of the contract.
"I'm pleased the Department of Commerce was able to find that renewal of the agreement is in the public interest," said US assistant secretary of commers for communications and information Lawrence E. Strickling.
"Consumers will benefit from Verisign's removal of the automatic price increases. At the same time, the agreement protects the security and stability of the internet by allowing Verisign to take cost-based price increases where justified."
The extension stabilises the future of the .com domain as ICANN is set to begin the rollout of the new generic top-level domain (gTLD) programme. The company is currently in the process of examining applications for the gTLDs and weighing concerns from government bodies over certain applications.