VeriSign to Acquire LightSurf Technologies
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From Dow Jones/Associated Press
VeriSign Inc. has agreed to acquire LightSurf Technologies Inc., a pioneer in cellphone photography led by entrepreneur Philippe Kahn, for $270 million in stock.
The deal represents an expansion in the mobile market for VeriSign, a Mountain View, Calif., provider of telecommunications and Internet services.
Kahn, 52, is expected to remain with VeriSign.
Closely held LightSurf has 250 employees, half at its headquarters in Santa Cruz and the rest in Bangalore, India.
VeriSign shares fell 12 cents to $30.83 on Nasdaq.
