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VeriSign snaps up Jamba for $273m
Mobile content is the place to be

By Reuters

Published: Tuesday 25 May 2004

Internet and telecom company VeriSign said it has agreed to acquire Germany's Jamba, a wireless content provider, for $273m in cash and VeriSign stock.

VeriSign said the deal could have incremental impact to its June-ending second quarter, when the deal is expected to close, and would be neutral to 2004 earnings per share and modestly accretive in 2005.

Berlin-based Jamba provides wireless content services to millions of wireless subscribers in nine European countries through its distribution and billing relationships with carriers such as Vodafone, T-Mobile and KPN.

Jamba, along with content publishers, also has built a downloadable library of popular music, games, graphics and programs.

VeriSign said it will pick up about 300 full-time Jamba employees.