VeriSign, Inc. , the leading provider of intelligent infrastructure services for the Internet and telecommunications networks, today announced it has signed a definitive agreement to acquire Santa Cruz, California-based LightSurf for $270 million in VeriSign stock.
LightSurf is a global leader in multimedia messaging and interoperability solutions for the wireless market. The company's industry-leading technology platform enables mobile subscribers to exchange pictures, video, and other forms of multimedia content. LightSurf supports a broad range of mobile devices and wireless networks, and its services are currently being used by millions of subscribers worldwide. Operators and service providers offering the LightSurf solution today include Sprint, Bell Mobility, Kodak, mm02, Rogers Wireless, Microcell, Telecom New Zealand, Iusacell, and Qwest. Additionally, the company works closely with leading handset manufacturers such as Samsung Electronics, Motorola, Sanyo, LG International Corp, and Toshiba to develop and deploy easy to use multimedia messaging services.
No VC backing on this company. Founder and angels made a killing on this deal. Transaction was about a 9x TTM rev multiple
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