MOUNTAIN VIEW, CA, Nov 27, 2006 (MARKET WIRE via COMTEX News Network) -- VeriSign, Inc. (NASDAQ: VRSN), the leading provider of intelligent infrastructure for the networked world, today announced it has signed a definitive agreement to acquire inCode Wireless, a global business and technology consulting firm.
"With a focus on next generation mobility solutions, inCode professionals have a firm grasp of all aspects of the wireless marketplace -- from business strategy to emerging trends," said Stratton Sclavos, Chief Executive Officer and Chairman of VeriSign. "Combined with VeriSign's market-leading portfolio of managed communications and content offerings, we plan to offer end-to-end solutions that enable our customers to launch compelling services that drive new revenue streams and improve customer loyalty."
inCode has become a global force in wireless business and technology consulting, with 14 offices in 10 countries. The company provides strategy consulting services to nearly every major wireless, wireline, cable operator and telecom equipment manufacturer, as well as leading enterprises.
"By joining VeriSign, inCode is able to take our renowned industry thought leadership to the next level," said John Donovan, Chairman of the Board and Chief Executive Officer of inCode. "VeriSign's strength in communications solutions and our global consulting teams will help customers accelerate their transformation to a next generation digital world."
The acquisition purchase price is approximately $52 million and is being accounted for as a purchase transaction. Additional information will be provided following the closing of the transaction; however, revenue and earnings contributions from the acquisition will not be material to VeriSign's 2006 financial results.
VeriSign, Inc. (NASDAQ: VRSN) operates intelligent infrastructure services that enable and protect billions of interactions every day across the world's voice and data networks. Additional news and information about the company is available at www.verisign.com
Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the inability of VeriSign to successfully market the combined companies' services and customer acceptance of the combined companies' services; the risk that the expected synergies resulting from the combination will not materialize; the incurrence of unexpected costs integrating the businesses; increased competition and pricing pressures; and the inability of VeriSign to successfully develop and market new products and services and customer acceptance of any new products or services. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2005 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.
SOURCE: VeriSign Inc.
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