Syniverse Technologies just announced a signed deal with VeriSign, Inc. to purchase VeriSign's messaging business for $175 Million in cash. The messaging business had aproximately $140 million in revenue for the last 12 months. This will put Syniverse in an almost immediate cash position on the company.
"This acquisition will benefit both global operators and subscribers," claims Tony Holcombe, President and CEO of Syniverse. "As mobile messaging volumes continue to experience double-digit growth, Syniverse will have the scale, reach and capabilites needed to provide mobile operators -- large or small -- with greater vendor choice and faster time to market for the services subscribers demand. Ultimately, the mobile sonsumer will benefit from more messaging services and applications."
The aquisition will compbine Syniverse's NEXT advanced messaging hub, with VeriSign's Inter-carrier gateway, PictureMail, Premium messaging Gateway, and Mobile enterprise solutions. VeriSign's services currently deliver about 60% of the inter-carrier messages in the United States. Syniverse will increase their ranks by 300 employees. Of the 300, 200 will be based in the United States, and 100 will be secured in India where Syniverse provides data clearing services, and recently number portibility services to several operators.
This transaction is still subject to and awaiting standard regulatory approvals.
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