VeriSign has agreed to acquire m-Qube for $250 million "net of cash," or after cash already on hand at m-Qube. m-Qube is a MoCo enabler that helps brands develop and sell mobile content and messaging services. m-Qube claims to reach more than 200 million wireless subscribers in North America and has already powered mobile storefronts and marketing campaigns for customers including Sony Pictures, CBS, Major League Baseball, Warner Music Group and Reuters. Analysts have hammered VeriSign of late, calling for its exit from its struggling ringtone business, which accounts for about 90 percent of the company's mobile content sales. VeriSign has said it has no intent of leaving. Instead, it plans to expand its B2C business beyond ringtones to enable other media Internet portals to move into the mobile market. It looks like m-Qube is part of that strategy.
To read more about VeriSign's acquisition of m-Qube:
- check out this press release