Syniverse Buys VeriSign Messaging Unit For $175M

Law360, New York (August 25, 2009, 4:28 PM EDT) -- Data services provider Syniverse Holdings Inc. has agreed to acquire VeriSign Inc.'s messaging business for $175 million in cash as part of VeriSign's effort to divest noncore businesses, the companies revealed Tuesday.

VeriSign's messaging business has had an annual revenue run-rate of some $140 million over the past year, and the deal is expected to result in a boost to Syniverse's bottom line, Tampa, Fla.-based Syniverse said.

Syniverse’s business is focused on helping mobile services companies get disparate technologies and standards to interoperate. As part of...
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