Syniverse Completes BSG Wireless Acquisition

Syniverse Technologies said Wednesday it has completed its $290 million acquisition of a leading provider of t the wireless clearing and financial settlement business of Billing Services Group (BSG). The acquisition was announced in April.

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. The combined company serves more than 500 customers in over 100 countries with voice and data roaming, financial clearinghouse, messaging, and signaling services, Syniverse said.

“This acquisition significantly expands Syniverse’s global footprint and adds a world-class financial settlement platform to our industry-leading suite of services,” said Tony Holcombe, President and CEO, Syniverse. “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.”

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

BSG Clearing Solutions www.bsgclearing.com
Syniverse Technologies www.syniverse.com