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VeriSign Sells M-Qube for Fraction of the Price It Paid
VeriSign has sold its mobile messaging aggregator business, m-Qube to Mobile Messenger for just under US$20 million. Under the terms of the agreement, Mobile Messenger obtains m-Qube's direct connections to carriers in the US and Canada, and its entire business delivering standard commercial messaging and premium mobile content to customers throughout North America.
Verisign originally brought m-Qube back in March 2006 for $250 million dollars net of cash.
As a mobile solutions provider, Mobile Messenger has operated in the US since 2004. Mobile Messenger was also m-Qube's largest client.
"The industry knows m-Qube as a traditional aggregator. And when it comes to managing mobile campaigns end-to-end, Mobile Messenger is widely known as a strategic and trusted partner providing clients with a full suite of premium services," said Michael Iaccarino, President and CEO of Mobile Messenger. "Our acquisition combines these two forces, links our capabilities directly to US and Canadian carriers, strengthens our commitment to provide full-service mobile solutions and gives our clients the unmatched opportunity to deliver dynamic services and content."
Mobile Messenger helps companies develop, distribute and monetize digital content through mobile devices. The company's products and services lines will now include full service premium solutions, premium aggregation and standard messaging.
Mobile Messenger remains headquartered in Los Angeles. m-Qube's Boston office has been integrated into Mobile Messenger as a business unit, and will serve as the company's global technology headquarters. Newly appointed CTO Purandar Das will lead the integration and Mobile Messenger's technology operations from Boston.
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