VeriSign sold Jamba stakes to News Corporation
This Internet news is provided from the West Technology Limited
Oct. 8, according to foreign media reports, news groups and Internet security company VeriSign jointly announced today that news group spent 200 million U.S. dollars in buying 49% stake held by VeriSign, News Corporation has wholly-owned mobile content provider Jamba.
Jamba for the production of mobile phones such as wallpaper, ring tones and games and so on. In addition, it called for mobile phone users with "mobisodes" of Fox television video series, including "24-hour anti-terrorism" and "escape" and "get the follow-up bone."
Internet security company VeriSign has been trying to divest its slow-growth business, in order to focus on its core business - Web site naming and Internet security services.
In August this year, VeriSign Chief Executive Officer James Bidzos said that the economic downturn affected by the slow progress in the divestiture process, the time required may have to exceed expectations.
Sales in Jamba after the news, VeriSign’s early trading on the Nasdaq stock trading up 5.5 percentage points. The News Corporation shares are due to the downturn of the entire media sector dragged down the performance, down 1 percentage point.
News Corporation in 2007 to about 188,000,000 U.S. dollars from the price of VeriSign acquired Jamba 51% of the shares, then the two companies formed a joint venture. The News Corporation joint venture with Fox Mobile Entertainment business integration together.
In 2004, VeriSign cost about 273,000,000 U.S. dollars to purchase Germany’s Jamba based in Berlin. The company now set up a dual headquarters in Berlin and California.
