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Syniverse enters Asia with ITHL acquisition |
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by Stuart Corner
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Tuesday, 20 June 2006 |
Syniverse Technologies a New York Stock Exchange listed provider of mission-critical technology services to wireless telecommunications companies has acquired the telecommunications business of Hong Kong based Interactive Technology Holdings Limited (ITHL) for up to $US45 million in cash, if certain financial goals are achieved.
ITHL is a provider of value-added services to carriers in the Asia Pacific region. It has approximately 180 employees and nine regional offices, including Singapore, Malaysia, and Taiwan. Employees and offices will be retained by Syniverse.
According to Syniverse president and CEO, Tony Holcombe, "The acquisition of ITHL is an important step in Syniverse's strategic plan for global expansion and product development. 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."
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