Syniverse Completes Acquisition of VeriSign's Messaging BusinessFont size: A | A | A8:05 AM ET 10/26/09 | BusinessWire
Significantly expanding its position in the global mobile messaging space, Syniverse Technologies (NYSE:SVR) announced today that it completed its acquisition of VeriSign, Inc.'s (NASDAQ:VRSN) Messaging and Mobile Media Services for approximately $175 million in cash, subject to working capital adjustments. The transaction, which was effective Oct. 23, is expected to be immediately accretive to cash net income.

"This strategic acquisition gives us the scale and reach necessary to compete globally in the rapidly growing messaging market," said Tony Holcombe, President and CEO, Syniverse, a leading provider of technology and business solutions for the global telecommunications industry. "By combining VeriSign's Messaging and Mobile Media Services with our Syniverse NEXT messaging solutions, we are not only fully able to meet the needs of operators of all types and sizes with the messaging technologies they need to meet subscriber demands, but we also are now able to offer enterprise messaging services directly or through mobile operators."

The acquisition brings to Syniverse four operator and enterprise messaging solutions: