News Corp Pays $200 Million for Remainder of Crazy Frog Firm

VeriSign says that it has sold its minority holding in the mobile content firm, Jamba to News Corporation for approximately $200 million. News Corporation originally acquired controlling interest in VeriSignÃ's wholly-owned Jamba subsidiary in 2007 and combined it with the Fox Mobile Entertainment unit.

"This sale is an important step in our effort to focus on our core businesses in Internet infrastructure," said Jim Bidzos, executive chairman of the board of directors, president and chief executive officer on an interim basis of VeriSign. "News Corp. has been a good business partner and we wish them well as they continue to operate an exciting mobile entertainment business."

Verisign sold the controlling stake in Jamba to News Corp for around US$188 million in Sept 2006. Verisign originally paid US$273 million for Jamba back in May 2004.

Earlier this year, the company recruited Mauro Montanaro as its new CEO. Mr. Montanaro joined Jamba after more than a decade at Nokia, where he most recently headed cell phone sales and channel development for the South East Asia Pacific region.

Posted to the site on 7th October 2008