Syniverse Buys BSG

Syniverse Technologies is buying the wireless clearing and financial settlement business of Billing Services Group (BSG) for $290 million in cash.

The deal will close as soon as all approvals are received, the companies said.

Syniverse develops technologies for wireless service providers; BSG is a clearinghouse for carriers. Syniverse executives said the acquisition expands the company’s operations coverage in Europe, Asia and the Middle East. BSG is based in the United Kingdom and reaches 180 mobile operators.

“The acquisition also brings to Syniverse a number of new services, including a best-in-class financial clearing platform, several new wireless services and additional product development expertise that will position us to better serve the increasingly complex needs of our global wireless customers,” said Tony Holcombe, president and CEO of Syniverse.

Syniverse said it plans to keep its European headquarters in the Netherlands and its European operations in BSG’s facilities in Germany and the United Kingdom.

Lehman Brothers is providing financing, along with Deutsche Bank and Bear, Stearns & Co. Deutsche Bank and Bear, Stearns & Co. served as strategic advisors to Syniverse on the transaction. Kirkland and Ellis LLP and Ernst & Young also advised on the transaction.

BSG Clearing Solutions www.bsgclearing.com  

Syniverse Technologies www.syniverse.com

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