Syniverse Buys VeriSign's Messaging Unit 4 $175 Million

Syniverse Technologies will acquire VeriSign, Inc.'s messaging business for $175 million, subject to working capital adjustments.

The proposed acquisition will combine Syniverse's NEXTAdvanced Messaging Hub, the industry's first comprehensive enhanced messaging hub, and other NEXT messaging offerings with four of VeriSign's operator and enterprise messaging solutions:

• Inter-Carrier Gateway enables operators to deliver inter-carrier person-to-person SMS and MMS messages across geographies and technologies.


• PictureMail provides state-of-the-art MMS platform with core components that include a hosted MMS service center (MMSC) for MMS routing, handset photo applications, a social networking interface, and photo storage and sharing capabilities.


• Premium Messaging Gateway manages delivery of "off-portal" or third-party content to subscribers.


• Mobile Enterprise Solutions enables businesses to send time- and event-based messages or alerts via voice, text message or email to customers, employees or partners, and allows operators to offer their high-value customers a broader array of services, including enterprise and mobile financial services.

The transaction is subject to customary closing conditions and regulatory approvals. Deutsche Bank and Alston & Bird LLP provided advisory services to Syniverse in connection with the transaction.