Syniverse to buy BSG arm for $290-m

TAMPA, Fl. (US): Syniverse Technologies, a global provider of mission-critical technology services to wireless telecommunications companies, has signed a definitive agreement to acquire the wireless clearing and financial settlement business of Billing Services Group, a provider of financial risk management solutions, for approximately $290 million in cash (which includes debt to be refinanced at closing).

Syniverse said in a statement on Monday that the proposed acquisition will combine its technology interoperability and network services capabilities with BSG's GSM data clearing expertise; European, Middle Eastern and Asian operator relationships; and financial clearing and settlement capabilities.

BSG serves approximately 180 mobile operators globally.

The transaction is subject to customary closing conditions, including BSG shareholder approval and regulatory approvals, and is expected to close as soon as such approvals are obtained.

Syniverse said it expects the transaction to be accretive to adjusted net income and cash net income in 2007, and anticipates providing updated financial guidance following the closing.

Following completion of the transaction and integration of the two businesses, Syniverse intends to maintain its European headquarters in The Netherlands and its European operations in BSG's facilities in Germany and the United Kingdom.

© CyberMedia News