VeriSign Buys Broadband Media Firm

It will pay $62 million for Kontiki.
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Security services firm

VeriSign

(VRSN) - Get Report

is acquiring privately held

Kontiki

, which makes applications for distributing digital media over broadband networks, for $62 million, the company announced on Monday.

Shares of VeriSign were off 32 cents to $22.82 in recent trading.

VeriSign is purchasing the company to give it a foothold as it moves into the broadband content-services market.

"In today's 'any era' where consumers are driving demand for how, when and where content gets delivered, VeriSign is investing in building an intelligent infrastructure for operators, Internet portals, media companies and consumer brands to use to deliver content to all three screens," Vernon Irvin, general manager of VeriSign Communications Services, said in a press release.

Time Warner's

(TWX)

AOL, the U.K.-based

BskyB

and

Verizon

(VZ) - Get Report

, among others, already use Kontiki to deliver video content to individual desktops. Kontiki also works with businesses to distribute secure content like DVD- or HD-quality video files, PowerPoint, PDF documents and other large files for training, sales and customer-support purposes.

The deal is expected to close in the current quarter.

VeriSign also announced that it completed its acquisition of

3united Mobile Solutions

, a wireless-applications service provider based in Vienna, Austria, for 55 million euros.