VeriSign, Inc. (Nasdaq: VRSN), the leading provider of intelligent infrastructure services for the Internet and telecommunications networks, announced the successful completion of its acquisition of m-Qube, effective today.
In accordance with the terms of the definitive agreement announced March 20, 2006, VeriSign paid $250 million for the Watertown, Massachusetts based-company. VeriSign will maintain existing m-Qube offices and gain approximately 200 full-time employees.
m-Qube is the recognized market leader in mobile media enablement providing premium content and connectivity services that can reach more than 200 million wireless subscribers across North America. The company’s intelligent applications power hundreds of mobile storefronts and interactive messaging campaigns for customers including Sony Pictures, CBS, Major League Baseball Advanced Media, Warner Music Group, Reuters, GQ, Virgin Mobile Canada and Telus Mobility.
“VeriSign leads the industry in providing intelligent infrastructure services that enable operators, portals, media and consumer product companies to provide mobile and broadband content services that allow them to compete in the ‘any era,’” said Jeff Treuhaft, senior vice president, VeriSign Communications Services. “m-Qube has award-winning products, a growing list of satisfied customers and a passionate group of committed employees. We are thrilled to have them become part of the VeriSign family.”
VeriSign expects the acquisition to contribute approximately $6-7 million in incremental revenues during the current quarter. As previously discussed on the company’s earnings conference call, the combination of m-Qube and other recent acquisitions will be $0.01 dilutive to current quarter earnings, but neutral for the year.
About VeriSign VeriSign, Inc. (Nasdaq: VRSN), operates intelligent infrastructure services that enable and protect billions of interactions every day across the world’s voice and data networks. Additional news and information about the company is available at www.verisign.com.