TAMPA, Fla. -- Syniverse Technologies (NYSE: SVR - News), a leading provider of mission-critical technology services to wireless telecommunications companies worldwide, announced today that it has signed a definitive agreement to acquire the wireless clearing and financial settlement business of Billing Services Group (LSE: BILL - News), a leading global provider of clearing, settlement, payment and financial risk management solutions for communications service providers, for approximately $290 million in cash (which includes debt to be refinanced at closing).

The proposed acquisition will combine Syniverse's industry-leading technology interoperability and network services capabilities with BSG's strong GSM data clearing expertise; excellent European, Middle Eastern and Asian operator relationships; and leading financial clearing and settlement capabilities. BSG serves approximately 180 mobile operators globally.

"The proposed acquisition of BSG's Wireless business will allow us to better serve the demands of our clients; further develop our global operations and customer base in Europe, Asia and the Middle East; and allow us to continue to be a leading service provider to GSM operators worldwide," said Tony Holcombe, President and CEO of Syniverse. "The acquisition also brings to Syniverse a number of new services, including a best-in-class financial clearing platform, several new wireless services and additional product development expertise that will position us to better serve the increasingly complex needs of our global wireless customers."

Syniverse Technologies LLC