Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
VRSN > SEC Filings for VRSN > Form 8-K on 13-Nov-2009All Recent SEC Filings

Show all filings for VERISIGN INC/CA | Request a Trial to NEW EDGAR Online Pro

Form 8-K for VERISIGN INC/CA


13-Nov-2009

Completion of Acquisition or Disposition of Assets, Financial Statements and Exhi


Item 2.01. Completion of Acquisition or Disposition of Assets.

On November 9, 2009, VeriSign, Inc., a Delaware corporation (the "Company") entered into a share purchase agreement (the "Agreement") to sell all of the issued and outstanding shares of capital stock (the "Shares") of m-Qube, Inc., a Delaware corporation ("m-Qube"), a wholly owned subsidiary of the Company and provider of the Mobile Delivery Gateway ("MDG") Services, to Mobile Messenger Global, Inc., a Delaware corporation (the "Purchaser"). MDG Services offer solutions to manage the complex operator interfaces, relationships, distribution, reporting and customer service for the delivery of standard and commercial messaging services and premium mobile content to customers. The MDG messaging aggregation services enable short messaging and multimedia messaging service connectivity for content providers, aggregators and others to all wireless subscribers of certain carriers and/or countries and regions. MDG Services enable content providers to more rapidly expand their global reach. Pursuant to the terms of the Agreement, the Purchaser received all of the Company's right, title and interest in the Shares, and in exchange, the Company received cash consideration of $1,786,449 on the closing date, consisting of $1,000,000 for the purchase of the Shares and $786,449 in connection with severance payments to be made to certain employees. Pursuant to the terms of the Agreement, the Company will also receive an amount equal to m-Qube's working capital as of the closing date, which the parties have preliminarily estimated to be approximately $17.5 million and which will be subject to a final adjustment to reflect the actual working capital balance as of the closing date. The Company will indemnify the Purchaser for, among other things, certain liabilities associated with the MDG business that have arisen or may arise from the conduct of the MDG business prior to the closing date. The Company generally will be responsible for existing liabilities associated with the MDG business. Prior to the transaction, an affiliate of the Purchaser was the largest customer of the MDG business. This transaction closed on November 9, 2009.



Item 9.01. Financial Statements and Exhibits.

(b)(1) Pro forma financial information

The pro forma financial information required by this item is attached as Exhibit 99.1 to this report.

(d) Exhibits

                    Exhibit
                    Number    Description

                     99.1     Pro forma financial information.


  Add VRSN to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for VRSN - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2010 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.