The agreement includes the roaming and clearing portfolio of VeriSign including services such as: Cellular Intercarrier Billing Exchange Roamer (CIBER) and Transferred Account Procedure (TAP) Clearing - Settlement and Exchange Service; and Intelligent Message Processing for Code Division Multiple Access (CDMA) signaling interoperability.
Roaming usage and consumption of new roaming services such as mobile data continue to grow rapidly and are forecast to nearly double over the next five years. Subscriber growth is expected to slow over the same period, making revenue streams from roaming services increasingly significant to mobile operators.
"This alliance with VeriSign Communications Services enables us to deliver a new set of complementary services to the mobile marketplace in Asia," CITIC 1616 CTO Sutton Cheung said.
David Sitomer, vice president of Business Development and Strategy for VeriSign, said, "Our agreement with CITIC 1616 is an important part of our strategy to serve the Asia Pacific marketplace. This alliance will, at last, provide mobile operators with local sales and support, as well as service provider choice for specialized roaming services."
For example, VeriSign will provide mission critical services such as:
-- CIBER and TAP Clearing - Settlement and Exchange Service: an intelligent infrastructure service that allows carriers to track and analyze their wholesale financial position for roaming subscriber usage with roaming partners via a Web-based reporting interface. -- Intelligent Message Processing for CDMA signaling interoperability: an advanced centralized solution that addresses each element of establishing and maintaining a seamless global roaming service. This service gives subscribers access to the same features and security when they travel abroad as they have in their home areas as well as providing support for international roamers visiting local service areas. -- Connectivity and Transport Services for voice and data roaming.
The joint offering is available to mobile operators in Asia via consultation with the CITIC 1616 Sales organization and can be arranged by submitting an inquiry to http://www.citic1616.com/en_contactus.php.
About VeriSign Communications Services
VeriSign Communications Services is a division of VeriSign, the trusted provider of Internet infrastructure services for the networked world. VeriSign Communications Services is an inter-carrier service provider offering extensive connectivity, coverage and reliability with a full suite of telco-grade services including SS7, roaming and clearing, number portability, calling name, and IP registry services.
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About CITIC 1616 Holdings Limited
CITIC 1616 Holdings Limited (CITIC 1616) as established in 1999 is now public and listed on the Main Board of Hong Kong Stock Exchange with stock code 1883.
CITIC 1616 is one of the leading telecommunications hubs to provide telecom services in the Asia Pacific including Voice Service, Mobile SMS and other value-added services (Signaling Transit, Prepaid Roaming and VAS applications), Data Service and Telecom solutions to telecom carriers, mobile operators and ISP. Additional news and information about the company is available at www.citic1616.com.
Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability; potential fluctuations in quarterly operating results due to such factors as the risk that VeriSign's announcements may not result in additional products, services, customers, profits or revenues; and increased competition and pricing pressures. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2008 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.
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