VeriSign (VRSN) to Sell Messaging Business to Syniverse Holdings (SVR) for $175 Million Cash

August 25, 2009 7:40 AM EDT
VeriSign, Inc. (NASDAQ: VRSN) announced a definitive agreement to sell its Messaging Business to Tampa, Fla.-based Syniverse Holdings, Inc. (NYSE: SVR), for cash consideration of $175 million, subject to working capital adjustments. The transaction is subject to certain closing conditions and regulatory approvals.

"Even under challenging economic conditions, we have continued to execute on our divestiture strategy through aligning with buyers with complementary strengths," said Mark McLaughlin, president and CEO of VeriSign. "We are pleased to continue making progress on our divestiture program with this latest agreement with Syniverse."

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