VeriSign To Acquire CallVision
Customer Self Care and Consolidated E-Billing and Analysis Services to Complement VeriSign Commerce Suite
VeriSign, Inc. (Nasdaq: VRSN), the leading provider of intelligent infrastructure services for the Internet and telecommunications networks, today (11 January 2006) announced it has signed a definitive agreement to acquire Seattle-based CallVision, a leading provider of online analysis applications.
The acquisition will enable VeriSign to deliver converged electronic bill presentation, payment and customer self-care applications to mobile operators, Tier 1 carriers, broadband companies and consumer-brand MVNOs worldwide. By adding these applications to the comprehensive VeriSign Commerce Suite, VeriSign can help communications providers further simplify the billing process, improve customer satisfaction, reduce operational costs and mitigate churn.
“The acquisition of CallVision is a strategic investment that furthers our goal of providing intelligent infrastructure services that enable rich and seamless communications, commerce and content services for carriers, online portals, media companies and consumer brands worldwide,” said Vernon Irvin, executive vice president and general manager, VeriSign Communications Services
CallVision clients such as T-Mobile, Bell Canada, TelstraClear and AAPT (Australia) use its applications to transform billing data into vital sources of business intelligence to increase satisfaction and retention. This is done by consolidating billing data from multiple systems, products, geographies, languages and currencies into a single electronic analysis and bill payment view and creating one view of multiple accounts. The company distributes and markets its services through direct sales and channel partners such as global system integrators and major BSS/OSS vendors.
“By developing highly regarded customer self-care and consolidated e-billing and analysis applications for Tier 1 and global carriers, CallVision has realized solid growth and established itself as a world-class provider of customer-centric solutions. We are pleased to be joining VeriSign to help one of the industry's most trusted brands deliver new services to a broader, diversified audience," said Derek Edwards, CEO of CallVision.
The acquisition is being accounted for as a purchase transaction and is valued at $30 million net of acquired cash. Revenue and earnings contributions from the acquisition will not be material to VeriSign's 2006 financial results. The transaction is expected to close in the first quarter of 2006.
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