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VeriSign acquires Moreover Technologies for $30 m

Posted by inet - 2005-10-18

VeriSign Inc. said on Monday it has acquired Moreover Technologies, a Web-based distributor of news and online material such as Web logs, in a long-anticipated deal valued at about $30 million in cash.
VeriSign said the deal combines privately held Moreover's links to more than 12,000 news sources and millions of blogs, or Web logs, with VeriSign's own information delivery technology. Moreover's customers include MSN, AskJeeves and BBC.

The deal follows VeriSign's $2.3 million purchase last week of Weblogs Inc., which alerts subscribers each time new material is posted to a blog.

Together, the two deals position VeriSign to target mobile phone users, Merrill Lynch said in a research note published on Monday before the widely anticipated deal was announced.

"Although the deals are a new direction for VeriSign, they are consistent with the company's strategy of building out content delivery services, which can ultimately target mobile users," Merrill said in a note to clients.

The companies said VeriSign's infrastructure would give Moreover's customers even greater stability to deliver real-time content and make it easier for publishers and bloggers to distribute and track their content.

Last week eBay Inc. said it would buy VeriSign's payment processing business for $370 million and merge it with its PayPal unit as part of a wider e-commerce payment services and security alliance.

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