Verisign’ Mobile Division Undervalued

So says Drew Brosseau, an SG Cowen analyst who covers the software and services company. The core VeriSign business is worth $21 to $22 a share, according to Brosseau. That means investors are now getting VeriSign’s mobile content business for “free.” VeriSign’s mobile business is worth between $5 and $10 a share, he calculated.
VeriSign’s mobile content and messaging business is generating run-rate sales of $650 million a year, or roughly $2.40 a share.

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