Syniverse Technologies acquires telecommunications business of ITHL

BANGALORE: Syniverse Technologies , a provider of technology services to wireless telecommunications companies worldwide, today announced that it has acquired the telecommunications business of Interactive Technology Holdings Limited (ITHL) for up to US$45 million in cash, including potential earn-out payments of up to US$7 million if certain financial goals are achieved.

Headquartered in Hong Kong, ITHL is a leading provider of value-added services to carriers in the Asia Pacific region. It has approximately 180 employees and nine regional offices including offices in Singapore, Malaysia, and Taiwan. The acquisition expands Syniverse‘s footprint in the Asia Pacific region, adds a complementary customer base, new products, advanced development capabilities, and in-region customer support.

"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 Technologies. "ITHL provides many new customers, most of whom are GSM operators, and a strong set of advanced products, including prepaid, messaging, video and number portability products that complement Syniverse‘s existing suite of services. Additionally, ITHL expands our presence and provides us with additional development capabilities in the heart of the world‘s most advanced wireless market."

ITHL chairman & CEO Raymond Cheung says, "The combination of Syniverse and ITHL‘s Telecommunications business represents a strong strategic fit and provides each company with expanded sales and marketing opportunities. The Asian wireless telecommunication carriers have been leaders in the adoption of 3G products, and ITHL has been a leader in 3G
solutions development for many years. With complementary product sets, we will be able to leverage Syniverse‘s scale and global customer base and will have an opportunity to provide these next-generation wireless solutions to other operators around the world."

Syniverse will maintain ITHL‘s nine existing offices and gain approximately 180 full-time employees. The acquisition will be accounted for as a purchase transaction and is expected to be accretive to earnings in 2006.

Latest Reads
Pune Times joins hands with the Pune Police to launch the 'City Safe' app, as part of #MakeMyCitySafe initiative

Pune Times, city supplement of leading media house, The Times of India, has joined hands with Pune Police to support an initiative for women’s safety in the city. Pune Times has launched its campaign #MakeMyCitySafe as a big shout out to the youth of Pune to come together to make the city safer...

Technology Software Applications
HAL Robotics ropes in Navanit Samaiyar as board member and advisor

MUMBAI: HAL Robotics has roped in Navanit Samaiyar as its board member and advisor. Samaiyar has a record of setting up, scaling and transforming businesses across a very wide cross section of industries spanning from IT/ ITeS to steel, telecom, engineering goods, earthmoving machinery, logistics...

Technology Hardware Components
Republic TV launches Android app

MUMBAI: Republic TV is on a roll. From rocking the ratings chart in launch week itself to going international, the channel has added one more accomplishment to its kitty. The Republic TV Android app is now live.

Technology Software Applications
STB cos in India, China enhancing features, providing customised solutions, Technavio enlists top vendors

MUMBAI: The global STB market is characterised by intense competition as the market is saturated in developed countries. The market share of these players is declining because of the entry of new players. The STB companies are enhancing the features of STBs and providing customised solutions to...

Technology Hardware Set-top Boxes
India's PFT Clear Media ERP suite to help US' PBS content delivery

MUMBAI: Prime Focus Technologies (PFT), the technology arm of Prime Focus, announced that its CLEAR™ Media ERP Suite has been selected by Public Broadcasting Service (PBS) to enhance their Network Operations Center (NOC) ecosystem efficiencies and sustainability, with the objective of reducing...

Technology Software Applications
Broadcasters, OTTs to gain as Via adds xHE-AAC at special rate

MUMBAI: Via Licensing Corporation, a intellectual property solutions provider, has announced the upcoming availability of Extended High Efficiency AAC (xHE-AAC) as part of the Advanced Audio Coding (AAC) patent pool. The expanded patent pool licence will be available at no additional cost to...

Technology Software Applications
Tata Comm to deliver Motorsport videos on global devices

MUMBAI: Tata Communications will now deliver video content for viewers' all devices over its global network. The two have partnered to power the growth of the network’s internet television platforms.

Technology Software Applications
How to create live video content sans pros, convert radio broadcast into visual show

MUMBAI: ChyronHego will be showcasing its live production, automation solutions at Broadcast India show in Mumbai in mid-October.

Technology Software Applications
Sony renews IP licence deal with TiVo

MUMBAI: TiVo Corporation, a leader in entertainment technology and audience insights, has announced that Sony Corporation, a leader in consumer electronics, has renewed its multi-year intellectual property (IP) licence agreement. The license to TiVo’s patent portfolios covers all of Sony’s...

Technology Software Applications

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories