Notable Mergers and Acquisitions of the Day 8/25: VRSN/SVR, YHOO, RATE

August 25, 2009 10:37 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."
  
  
• Yahoo! (Nasdaq: YHOO) has agreed to acquire Maktoob.com, the Arab world’s largest online community, marking the first major investment by a U.S. technology company in a region where internet penetration is still in its infancy.
  
  Yahoo! said it expects the acquisition to be completed in the fourth quarter.
  
  Following completion of the deal, Maktoob.com will become a wholly-owned subsidiary of Yahoo!, while the remaining products under the Maktoob Group will operate under a new entity called the Jabbar Internet Group.
  
  
• Apax Partners announced that BEN Merger Sub, Inc. and BEN Holdings, Inc., corporations wholly owned by funds advised by Apax Partners and formed for the purpose of acquiring Bankrate, Inc., completed their tender offer for shares of common stock of Bankrate, Inc., (Nasdaq: RATE) at a price of $28.50 per share. The offer expired at 12:00 midnight, New York City time, on August 24, 2009.
  
  According to the depositary for the offer, as of the expiration of the offer, a total of approximately 5,397,131 shares of Bankrate were validly tendered and not withdrawn (including approximately 635,671 shares delivered through notices of guaranteed delivery), representing approximately 28% of the outstanding shares and, together with shares subject to support agreements entered into by certain directors and officers of Bankrate, representing approximately 52% of the outstanding shares.

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