Mergers and Acquistions News
Categories: IT Services & Consulting
October 28th 2010, 17:21PM
It's a busy month for the Carlyle Group – hot on the heels of its acquisition of CommScope for $3.9 billion (£2.4 billion), the global private equity house today (October 28th) announced the purchase of Syniverse Technologies for $2.6 billion in cash.
Carlyle will pay $31 per share to acquire all outstanding common shares of the Tampa, Florida-based firm, which provides technology and business solutions for the telecoms industry. This is approximately a 35 per cent premium on Syniverse's average closing share price, ended October 26th.
Syniverse offers mobile roaming, messaging, and network infrastructure products to operators in over 160 countries.
"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.
"The acquisition provides validation of the results we have achieved through our sound strategy, strong management team, and expert employee base, and provides our stockholders with a significant cash premium for their investment," he added.
The transaction is expected to close in the first quarter of 2011.
In addition to its acquisition of CommScope, Carlyle purchased NBTY Inc, a maker of nutritional supplements, for $3.8 billion in July this year.
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