Monday, March 2, 2009

VeriSign Sells Communications Services Group

Mountain View-based VeriSign announced Monday afternoon that the firm has sold its Communications Services Group to TNS, a Reston, Virginia-based firm. The deal was worth $230M. According to the firm, the move was an "important step" toward focusing on its core business in Internet infrastructure. VeriSign's Communications Services group focused on provoding roaming and VoIP services, SS7 network services, and electronic bill payment and presentment services. VeriSign was advised by Morgan Stanley & Co., and Cleary Gottlieb Steen & Hamilton LLP. in the deal.