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Article: United States : VeriSign sells messaging unit to Syniverse for $175M.
- Article from:
- TendersInfo
- Article date:
- August 28, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mamta03
Syniverse Technologies Inc. is adding 300 people to its payroll and new technology to enhance its short message and multimedia messaging services through a $175 million acquisition of VeriSign Inc. s messaging business.
The agreement, subject to working capital adjustments, would bring VeriSign s (NASDAQ: VRSN) affiliate, which had a revenue run rate of about $140 million over the last year, to Syniverse.
As mobile messaging volumes continue to experience double-digit growth, Syniverse will have the scale, reach and capabilities needed to provide mobile operators large or small with greater vendor choice and faster time to ...