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VeriSign to purchase H.O. Systems

VeriSign today announced it will acquire wireless billing and customer-care solutions provider H.O. Systems to enhance the company’s Illuminet portfolio of telecommunication services.

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H.O. Systems’ core product, speedSUITE, is an end-to-end billing and customer-relationship management service that helps wireless carriers with all stages of subscriber subscription. In addition, the H.O. Systems acquisition will expand VeriSign’s payments gateway by combining it with H.O. Systems’ speedBILL wireless electronic bill-payment infrastructure.

VeriSign will pay about $340 million in stock and cash for H.O. Systems’ stock. The acquisition will be finalized at the end of first quarter fiscal year 2002.

--Amalia D. Parthenios, staff writer

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© 2012 Penton Media Inc.

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