VeriSign buys m-Qube for $250 million
VeriSign, the internet security company, is branching out. They have bought m-Qube, a privately held mobile services billing and delivery company for $250 million. m-Qube specializes in delivering premium text messaging and media services to wireless subscribers in North America.
This is just the most recent acquisition in a busy shopping spree for VeriSign. The company is expanding its digital media platforms so that carriers and companies can provide mobile and broadband services. They bought 3united Mobile Solutions, a wireless applications provider for 55 million euros last month. They also paid $62 million for Kontiki earlier this month.
The acquisition of m-Qube is net of cash, or in other words it doesn’t count the cash that m-Qube has on hand. It will be accounted for as a straight forward purchase and will close by the end of the second quarter. The deal will be neutral to earnings for the rest of the year.
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