Syniverse Goes Shopping in Asia
Syniverse Technologies (SVR), a provider of networking services to wireless telecom companies, has acquired Hong Kong's Interactive Technology Holdings in a move aimed at broadening its operations in the Asia-Pacific region.
The deal will be worth as much as $45 million, including performance-based payments of up to $7 million.
"The acquisition of ITHL is an important step in Syniverse's strategic plan for global expansion and product development," said Tony Holcombe, president and CEO of Syniverse.
Syniverse, based in Tampa, Fla., said the acquisition should add to its earnings this year. Shares of Syniverse were up 52 cents, or 3.5%, to $15.57.
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