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MOUNTAIN VIEW, CA – May 1, 2006 – 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.
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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.
Contacts
Media Relations: Lori Sinsley, lsinsley@verisign.com,
650-426-4716
Investor Relations: Tom McCallum, tmccallum@verisign.com,
650-426-3744
Trademarks
VeriSign and other trademarks, service marks and logos are registered
or unregistered marks of VeriSign, Inc. and its subsidiaries in the
United States and in foreign countries. Copyright © 2006 VeriSign, Inc.
All rights reserved.
Forward Looking Statement
Statements in this announcement other than historical data and information
constitute forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These statements involve risks and uncertainties
that could cause VeriSign's actual results to differ materially from
those stated or implied by such forward-looking statements. The potential
risks and uncertainties include, among others, the uncertainty of future
revenue and profitability and potential fluctuations in quarterly operating
results due to the inability of VeriSign to successfully market the
combined companies' services and customer acceptance of the combined
companies' services; that the expected synergies resulting from the
combinations will not materialize; and that we may incur unexpected
costs integrating the businesses. More information about potential factors
that could affect the company's business and financial results is included
in VeriSign's filings with the Securities and Exchange Commission, including
in the company's Annual Report on Form 10-K for the year ended December
31, 2005 and quarterly reports on Form 10-Q. VeriSign undertakes no
obligation to update any of the forward-looking statement after the
date of this press release.