VeriSign acquires m-Cube for $250M

Mar 20 2006 - 01:50 PM ET | SMS

So much for the rumors of VeriSign getting out of the mobile business, today the company announced an acquisition of m-Cube for $250 million. According to reports, Motricity was competing with VeriSign over the purchase.

m-Cube facilitates mobile billing for companies through premium SMS. It racked up $84 million in revenue last year and has companies like CBS, Major League Baseball and Virgin Mobile as customers.