Lightbridge to Sell PrePay INS Business to VeriSign

Tuesday 26 April 2005 10:08 CET | News

Lightbridge, has entered into a definitive agreement to sell its PrePay Intelligent Network Solutions (INS) business to VeriSign, for $17.45 million in cash plus assumption of certain contractual liabilities.

The acquisition is expected to close in the second quarter. Lightbridges INS business develops, delivers and supports the Lightbridge PrePay IN product, a leading Intelligent Network (IN) solution for wireless operators, which delivers real-time rating for innovative voice and emerging data services. Lightbridge also announced today that it has engaged the investment banking firms of Needham & Company, Inc. and Gridley & Co. LLC., to advise the Company on strategic alternatives for its Telecom Decisioning Services (TDS) business. Lightbridge expects to investigate a range of possible alternatives. No assurance can be given that any transaction will result from the exploration process that Needham/Gridley has been retained to manage.

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Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce