Apr 11, 2005 : VeriSign Completes LightSurf Buy

📅 April 11, 2005 - VeriSign (verisign.com) announced on Thursday that it had completed its acquisition of LightSurf, a provider of multimedia messaging and interoperability solutions for the wireless market, for $270 million in VeriSign stock. LightSurf's technology enables mobile subscribers to exchange pictures, video, and other forms of multimedia content. Operators and service providers deploying LightSurf include Sprint, Bell Mobility, Kodak, Rogers Wireless, Microcell, Telecom New Zealand, Iusacell, and Qwest.
 VeriSign says the addition of LightSurf's technology enables it to offer carriers a wireless data utility that covers all aspects of the mobile content value chain. Functions will include picture messaging, multimedia messaging services, and inter-carrier messaging and interoperability.  "LightSurf enhances our intelligent communications, commerce and content strategy with the addition of a world class technical team and an industry leading platform for multimedia messaging," says Stratton Sclavos, chairman and CEO of VeriSign. "LightSurf's innovative managed services and their strong record of success with carriers make them a natural fit with VeriSign." With the acquisition, VeriSign adds approximately 300 full-time employees. Lightsurf's offices will remain in Bangalore, India and Santa Cruz, California.  VeriSign expects the acquisition to generate at least $30 million in incremental revenues for the last nine months of 2005.