Verisign is selling off its last remaining non-core mobile business, mQube, to mobile messaging company Mobile Messenger, for an undisclosed sum. MM obtains m-Qube’s direct connections to carriers in the US and Canada, and its entire business of delivering commercial messaging and premium mobile content. Verisign acquired mQube for $250 million more than three years ago, though the sale price is likely only a fraction of that. MM was started in Australia, and entered U.S. in 2004; it was m-Qube’s largest client.
Mobile Messenger, which is majority owned by PE firm Silver Lake Sumeru, remains headquartered in Los Angeles. m-Qube’s Boston office has been integrated into MM as a business unit, and will serve as the company’s global tech headquarters. Newly appointed CTO Purandar Das will lead the integration and MM’s technology operations from Boston. More details in release.
Updated: The price was disclosed in an SEC filing by Verisign: $1.78 million cash, and it will also receive an amount equal to m-Qube