VeriSign to acquire Kontiki for $62 million

VeriSign looks to enter the broadband content services market with acquisition of Kontiki.

By Steven Schwankert , IDG News Service , 03/14/2006

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VeriSign Tuesday announced plans to acquire Kontiki for $62 million with the intention of entering the broadband content services market, the company said in a statement.

Kontiki’s platform will form the "cornerstone" of VeriSign’s Broadband Content Services, to support legal distribution of rich digital media over IP networks, VerSign said.

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The transaction is being accounted for as a purchase transaction and is expected to close in the first quarter of 2006. The financial impact of the transaction will be disclosed following the closing, VeriSign said.

VeriSign also said it has completed the acquisition of 3united Mobile Solutions, for which it paid €55 million ($65.8 million).