Excerpt from our Wall Street Breakfast, a one-page summary of this morning's key market-moving and stock-moving stories:
NeuStar Acquires Followap for $139M [Business Week/AP]
Summary: NeuStar, which provides clearinghouse services to communications companies, reported its $139 million acquisition of U.K.-based Followap, a provider of instant messaging products for European and Asian markets. NeuStar predicts Followap will generate $25 million in revenue in 2007 and twice that amount in 2008. "Strong demand is emerging worldwide for Instant Messaging, and leading mobile network operators in Europe already depend on Followap's products to deliver IM," said Jeff Ganek, NeuStar's chairman and CEO. NeuStar shares fell 23 cents to $31.79.
Related links: Press Release: PR Newswire • NeuStar Financial statements. Commentary: NeuStar Bounces Back Despite Reducing Margins
Potentially impacted stocks and ETFs: NeuStar (NYSE:NSR) • Competitors: Boston Communications Group Inc. (BCGI)
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