VeriSign Successfully
Completes Acquisition of Jamba! AG
Acquisition brings the capabilities and presence of Europe's leading
content mediation provider to VeriSign's Intelligent Communications,
Commerce and Content Services
MOUNTAIN VIEW, CA - June 3, 2004 - VeriSign, Inc. (Nasdaq:
VRSN), the leading provider of intelligent infrastructure services for
the Internet and telecommunications networks, today announced the successful
completion of its acquisition of Berlin, Germany-based Jamba! AG, a
leading European provider of wireless content services.
VeriSign announced a definitive
agreement to acquire Jamba! on May 24th. Under the terms of the agreement,
VeriSign paid approximately $273 million for Jamba!, with the final
consideration consisting of 65% cash, and 35% stock. The acquisition
will be treated as a purchase transaction. VeriSign will maintain Jamba!'s
office in Berlin, gaining approximately 300 full-time employees.
"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, said Vernon Irvin,
executive vice president, VeriSign Communications Services. "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."
By adding Jamba!'s capabilities
into its existing communication services platforms, VeriSign expects
to be able to offer carriers a comprehensive wireless data utility that
covers all aspects of the mobile content value chain. Functionality
will include content on-boarding, aggregation, formatting, mediation,
and a variety of billing and payment services.
Oliver and Marc Samwer, the founders
and managing directors of Jamba, will now report to Mahi deSilva, senior
vice president of the wireless business unit for VeriSign Communications
Services. VeriSign will provide further guidance on the expected contribution
from Jamba! on its Q2 earnings call.
About VeriSign
VeriSign, Inc. (Nasdaq: VRSN), delivers critical infrastructure services
that make the Internet and telecommunications networks more intelligent,
reliable, and secure. Every day VeriSign helps thousands of businesses
and millions of consumers connect, communicate, and transact with confidence.
Additional news and information about the company is available at http://www.verisign.com.
For more information, contact:
VeriSign Media Relations: Leslie Rubin, lrubin@verisign,
650-426-5363
VeriSign Investor Relations: Kathleen Bare, kbare@verisign.com,
650-426-3241
VeriSign Public Relations: Burghardt Tenderich (German Media Inquiries), bt@bitepr.com,
415-365-0222
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 inability
of VeriSign to successfully market the combined companies' services
and customer acceptance of the combined companies' services; the risks
that the expected synergies resulting the combination will not materialize;
and we may incur unexpected costs integrating the businesses. 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-Q for the year ended December 31, 2003 and quarterly reports
on Form 10-Q. VeriSign undertakes no obligation to update any of the
forward-looking statement after the date of this press release. VeriSign
is a registered trademark of VeriSign, Inc. in the United States and
in foreign countries. Other names may be trademarks of their respective
owners.
