VeriSign Buys Jamba!

VeriSign Inc. announced it has signed an agreement to acquire Berlin, Germany based Jamba! for approximately $273 million

May 25, 2004

1 Min Read

MOUNTAIN VIEW, Calif. -- VeriSign, Inc. (Nasdaq: VRSN), the leading provider of intelligent infrastructure services for the Internet and telecommunications networks, today announced it has signed a definitive agreement to acquire Berlin, Germany based Jamba! for approximately $273 million in cash and VeriSign stock. The acquisition is subject to German regulatory approvals and other conditions, and is expected to close by the end of the second quarter.

Jamba! is a leading provider of wireless content services in Europe. The company serves millions of wireless subscribers in nine European countries through distribution and billing relationships with carriers, including Vodafone, T-Mobile and KPN. In addition, Jamba! has worked with leading content publishers to build a downloadable library of over 50,000 individual products, including popular music, graphics, games and applications.

The acquisition is an extension of VeriSign's Communications Services Intelligent Communication, Commerce, and Content (IC3) strategy, which provides carriers with the intelligent infrastructure services they need to help their customers find, connect, secure, and transact over any network, anywhere. It also supports VeriSign Communications Services growth initiatives to expand its portfolio of wireless services and to further penetrate Tier 1 carriers and international markets.

"We are very excited about the strategic value of this acquisition," said Stratton Sclavos, chairman and CEO of VeriSign. "By joining forces with Jamba!, VeriSign gains a robust content mediation platform, relationships with 13 European carriers, sourcing arrangements with over 180 content providers, and a solid, growing customer base in a key geographical market."

VeriSign Inc.

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