Tuesday, April 25, 2017
TeleSign Acquired By BICS For $230M
Los Angeles-based TeleSign, which uses phone calls and related information for mobile identity management, authentication, and other cloud services, has been acquired by Brussels-based BICS, in a deal worth $230M in cash plus unspecified earnout. BICS said that TeleSign has annual revenues of around $100M. As part of the deal, BICS said that TeleSign will continue to operate independently as a wholly-owned subsidiary of the company, led by current CEO Aled Miles. Daniel Kurgan, CEO of BICS, will become Chairman of TeleSign. TeleSign is venture backed by Adams Street Partners, March Capital Partners, Summit Partners, and Telstra Corp. The company's services are very widely used among top tier cloud and Internet companies, to power the mobile authentication features of those sites, as well as to prevent e-commmerce fraud.