VeriSign To Acquire inCode Wireless
VeriSign, Inc announced it has signed a definitive agreement to acquire inCode Wireless, a global business and technology consulting firm.
“With a focus on next generation mobility solutions, inCode professionals have a firm grasp of all aspects of the wireless marketplace – from business strategy to emerging trends,” said Stratton Sclavos, Chief Executive Officer and Chairman of VeriSign. “Combined with VeriSign's market-leading portfolio of managed communications and content offerings, we plan to offer end-to-end solutions that enable our customers to launch compelling services that drive new revenue streams and improve customer loyalty.”
inCode has become a global force in wireless business and technology consulting, with 14 offices in 10 countries. The company provides strategy consulting services to nearly every major wireless, wireline, cable operator and telecom equipment manufacturer, as well as leading enterprises.
“By joining VeriSign, inCode is able to take our renowned industry thought leadership to the next level,” said John Donovan, Chairman of the Board and Chief Executive Officer of inCode. “VeriSign's strength in communications solutions and our global consulting teams will help customers accelerate their transformation to a next generation digital world.”
The acquisition purchase price is approximately $52 million and is being accounted for as a purchase transaction. Additional information will be provided following the closing of the transaction; however, revenue and earnings contributions from the acquisition will not be material to VeriSign's 2006 financial results.