News & Events

VeriSign to Acquire Lightbridge’s PrepayIN™ Technology Platform and Customer Base

Asset Acquisition Adds Additional Capabilities to Mobile Commerce Services Portfolio

MOUNTAIN VIEW, CA — April 25 , 2005 — VeriSign, Inc. (Nasdaq: VRSN), the leading provider of intelligent infrastructure services for the Internet and telecommunications networks, today announced it has signed a definitive agreement to acquire Lightbridge’s (Nasdaq: LTBG) Intelligent Network Solutions (INS) technology platform and customer base for $17.45  million in cash plus the assumption of certain contractual liabilities.

The Lightbridge PrepayIN™ platform is a leading Intelligent Network solution that provides real-time rating for voice, data, and IN-based services, empowering mobile operators to deliver highly flexible prepaid, hybrid, and postpaid charging capabilities to their subscribers. The PrepayIN™ platform is recognized as a leading prepaid solution, offering multi-currency support for operators and 35 million subscribers.

“Adding the PrepayIN™ platform to our existing pre-paid and billing portfolio is a compliment to our already extensive solution offering,” said Vernon Irvin, executive vice president, VeriSign Communications Services. “This is a system that will enrich our prepaid offering domestically, while extending our customer base to markets internationally.”

The enhanced suite of services will include new intelligent network capabilities, real-time rating for voice and data, postpaid charging, voucher management, and telecom calling card services among others. The PrepayIN™ platform will also augment VeriSign’s Service Portfolio for North American-based Mobile Virtual Network Operators (MVNOs) who are expected to target largely untapped prepaid segments to drive subscriber volume.

The acquisition will be accounted for as a purchase transaction and has been approved by both companies’ boards of directors. The acquisition is anticipated to close in the second quarter of 2005, and is subject to standard closing requirements.  The transaction is not material to VeriSign’s current financial guidance as provided on its April 20, 2005 earnings call.

About VeriSign 
VeriSign, Inc. (Nasdaq: VRSN), operates intelligent infrastructure services that enable businesses and individuals to find, connect, secure, and transact across today’s complex global networks. Additional news and information about the company is available at http://www.verisign.com.

For more information, contact: 
VeriSign Media Relations: Brian O’Shaughnessy, boshaughnessy@verisign.com, 650-426-5270 
VeriSign Investor Relations: Tom McCallum, tmccallum@verisign.com, 650-426-3477

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 such factors as the inability of VeriSign to successfully market its services, including the Intelligent Network Solutions business and the PrepayINTM platform; customer acceptance of the services as provided by VeriSign; the risk that expected economies in servicing customers will not materialize; the incurrence of unexpected costs integrating the assets; increased competition and pricing pressures; and the inability of VeriSign to successfully develop and market new products and services and customer acceptance of any new products or services. 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, 2004 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.