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Tampa Bay-Lakeland
Business Observer Tuesday, Nov. 30, 2010 11 years ago

Syniverse sale gets fed nod

The FTC and Department of Justice help move along the Tampa firm's sale.

Syniverse Holdings Inc. received a nod from the federal government today that may help the company move forward with its plans to go private.

Late last month, Syniverse accepted a purchase offer from the Carlyle Group that valued the Tampa firm at roughly $2.6 billion. According to the Hart-Scott-Rodino Antitrust Act, any deal between the two companies would require a 30-day waiting period before closing. But the Federal Trade Commission and the Antitrust Division of the Department of Justice ended that waiting period today.

Given that the deal is expected to close in the first quarter of 2011, today's announcement is critical. And additional approvals — including those from the Federal Communications Commission and Syniverse stockholders — are still needed before the deal can close.

In the 12 months prior to Sept. 30, Syniverse generated $618.6 million in revenues.

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