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Syniverse completes BSG Wireless acquisition

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CIOL Bureau
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TAMPA (FLORIDA), USA: Business solutions provider Syniverse Technologies has completed its acquisition of the wireless services business of Billing Services Group Limited (BSG).

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The combined company serves more than 500 customers in over 100 countries with the industry's broadest suite of voice and data roaming, financial clearinghouse, messaging, and signaling services, Syniverse said in a statement. 

“The combination of Syniverse and BSG Wireless also will lead to increased operating efficiencies, and we expect to realize $12 million of annual cost synergies within two years,” said Tony Holcombe, president and CEO, Syniverse.

The former BSG Wireless operations will become part of Syniverse's EMEA organization and will be led by Eugene Bergen Henegouwen, executive vice president, EMEA, Syniverse.

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Henegouwen said the acquisition will enable Syniverse to provide increasingly superior products and services over the long term.

The transaction was funded through the draw down of the company's amended and restated credit facility completed in August 2007, Syniverse said.

Included in the facility were a delayed draw term loan of $160 million in aggregate principal and a Euro-denominated delayed draw term loan facility of the equivalent of $130 million intended to finance this acquisition.

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