Verisign Buys Multimedia Solution Provider

VeriSign announced yesterday that it will acquire wireless multimedia solution provider LightSurf Technologies, Inc. in a $270 million deal.

LightSurf's products permit the transmission and exchange of images, video and rich media content over mobile communications networks. VeriSign plans to use these technologies as the basis for a comprehensive data utility, including picture and video messaging, that it will offer to mobile wireless communications carriers.

"We are very excited about the strategic value and cutting edge capabilities that LightSurf adds to VeriSign's Intelligent Communications, Commerce and Content platform," VeriSign Chairman and CEO Stratton Sclavos said in a statement. "LightSurf's innovative managed services and their strong record of success with carriers make them a natural fit with VeriSign."

Indeed, LightSurf is already well-entrenched in the mobile multimedia market. Its customers include Sprint, Bell Mobility, Kodak, mm02, Rogers Wireless, Microcell, Telecom New Zealand, Iusacell, and Qwest, amounting to millions of wireless communications users. LightSurf's technology supports a wide range of mobile devices and wireless networks, and the company has worked closely with most of the leading mobile communications products vendors.

The acquisition has been approved by both companies' boards of directors, and is expected to be complete by this spring.