Verisign is finally done with almost all of its non-core disposals, a process that started early last year: Syniverse is buying off its mobile messaging business, for cash consideration of $175 million. The business has an annual revenue run-rate of approximately $140 million over the last 12 months, and the transaction is expected to be immediately accretive to cash net income, the company said. UPDATE: With this sale, VeriSign (NSDQ: VRSN) hasn’t sold all of its mobile properties. Still left, is mQube, for more information go here.
In this deal, VRSN has sold off several mobile businesses, including:
– Inter-Carrier Gateway which enables operators to deliver inter-carrierSMS and MMS messages.
– PictureMail which provides MMS platform including a hosted MMS service center for MMS routing, handset photo applications, a social networking interface, and photo storage and sharing capabilities.
– Premium Messaging Gateway which manages delivery of