Significantly expanding its position in the global mobile messaging space, Syniverse Technologies (News - Alert), a provider of mobile technology for the global telecom industry, has completed its acquisition of VeriSign (News - Alert), Inc.`s Messaging and Mobile Media Services for approximately. The deal is signed for a value of $175 million in cash and is subject to working capital adjustments.
The transaction, as stated by the company, was effective Oct. 23, and is expected to be immediately accretive to cash net income.
“This strategic acquisition gives us the scale and reach necessary to compete globally in the rapidly growing messaging market,” Tony Holcombe (News - Alert), president and CEO at Syniverse, said.
“By combining VeriSign`s Messaging and Mobile Media Services with our Syniverse NEXT messaging solutions, we are not only fully able to meet the needs of operators of all types and sizes with the messaging technologies they need to meet subscriber demands, but we also are now able to offer enterprise messaging services directly or through mobile operators,” Holcombe said.
As a specialist in mobile messaging, mobile banking and financial services, and mobile content delivery, the Messaging and Mobile Media division of VeriSign is said to reliably and securely deliver SMS, MMS and mobile content across wireless operators and mobile devices throughout the world.
Wireless operators, enterprises, and mobile content providers worldwide has deployed VeriSign Messaging and Mobile Media services to distribute mobile media and applications and across a carrier-grade network that connects to more than 700 carriers and reaches more than 3 billion wireless subscribers in over 200 countries.
The acquisition brings to Syniverse four operator and enterprise messaging solutions which includes; Inter-Carrier Gateway (News - Alert), that enables operators to deliver inter-carrier person-to-person SMS and MMS messages across geographies and technologies; PictureMail, that provides a state-of-the-art MMS platform with core components that include a hosted MMS service center for MMS routing, handset photo applications, a social networking interface, and photo storage and sharing capabilities.
Jai C.S. is a contributing editor for TMCnet. To read more of Jai's articles, please visit his columnist page.
Edited by Kelly McGuire