Mergers and Acquistions News
Categories: Telecoms
January 13th 2011, 16:50PM
The acquisition of Syniverse Technologies, a global telecommunications firm, has been completed by private equity giant The Carlyle Group for approximately $2.6 billion (£1.6 billion).
Carlyle will pay about $31 per share to Syniverse's shareholders to acquire all outstanding common shares of the Tampa, Florida-based firm, which offers mobile roaming, messaging, and network infrastructure products to operators in over 160 countries.
As a result of the merger, Syniverse's common stock will no longer be listed on the New York Stock Exchange.
The purchase was first announced in November last year.
"After careful and diligent analysis, together with our independent advisers, the board of directors and I are proud to enter into this agreement with Carlyle," said Bob Marino, chairman of Syniverse.
Carlyle's last major telecoms acquisition was the purchase of CommScope for approximately $3.9 billion in late 2010. CommScope provides communications infrastructure products for firms in more than 130 countries.
The firm will become a private company on completion of the deal.
Carlyle had left the deal open until December 5th last year, when CommScope was allowed to solicit for better offers from third parties.
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