Make us your home page

Tampa's Syniverse builds text messaging strength with VeriSign deal

Tampa's Syniverse Technologies is expanding its niche as a major force in text messaging through a deal to buy VeriSign Inc.'s mobile messaging business for $175 million in cash.

Shares of Syniverse jumped 23 percent Tuesday, reaching as high as $19.41 a share before settling at $18.82.

The deal will add 300 employees to Syniverse's work force, most from VeriSign's Silicon Valley headquarters and about 100 based in India. Syniverse, which provides mobile services for more than 650 companies, employs about 1,150 worldwide, including 650 in Tampa.

It's Syniverse's largest acquisition in terms of employees and revenue.

Tony Holcombe, Syniverse's president and CEO, said the deal is a strong fit on several fronts:

• VeriSign has a strong customer base in the United States, while Syniverse is more focused overseas.

• VeriSign brings more large customers into the fold: To date, Syniverse's largest U.S. client had been Alltel, which it lost after that company became part of Verizon.

• Syniverse can use its global sales and distribution channels to market various VeriSign products, such as event-based and time-based text messaging options.

Holcombe said Syniverse still has enough cash to finance further acquisitions, though likely not of this scope or immediately.

"We bought three large companies in three years. We're trying to focus on getting those integrated and doing it right," he said.

Jeff Harrington can be reached at or (727) 893-8242.

Tampa's Syniverse builds text messaging strength with VeriSign deal 08/25/09 [Last modified: Tuesday, August 25, 2009 8:13pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Pinellas construction licensing board needs to be fixed. But how?

    Local Government

    LARGO –– Everyone agrees that the Pinellas County Construction Licensing Board needs to be reformed. But no one agrees on how to do it.

    Rodney Fischer, former executive director of the Pinellas County Construction Licensing Board Rodney, at a February meeting. His management of the agency was criticized by an inspector general's report. [SCOTT KEELER   |   Times]

  2. New owners take over downtown St. Petersburg's Hofbräuhaus


    ST. PETERSBURG — The downtown German beer-hall Hofbräuhaus St. Petersburg has been bought by a partnership led by former Checkers Drive-In Restaurants president Keith Sirois.

    The Hofbrauhaus, St. Petersburg, located in the former historic Tramor Cafeteria, St. Petersburg, is under new ownership.

  3. Boho Hunter will target fashions in Hyde Park


    Boho Hunter, a boutique based in Miami's Wynwood District, will expand into Tampa with its very first franchise.

    Palma Canaria bags will be among the featured items at Boho Hunter when it opens in October. Photo courtesy of Boho Hunter.
  4. Gallery now bringing useful art to Hyde Park customers


    HYDE PARK — In 1998, Mike and Sue Shapiro opened a gallery in St. Petersburg along Central Ave., with a majority of the space dedicated to Sue's clay studio.

     As Sue Shapiro continued to work on her pottery in St. Petersburg, her retail space grew and her studio shrunk. Now Shapiro's is bringing wares like these to Hyde Park Village. Photo courtesy of Shapiro's.
  5. Appointments at Raymond James Bank and Saint Leo University highlight this week's Tampa Bay business Movers & Shakers



    Raymond James Bank has hired Grace Jackson to serve as executive vice president and chief operating officer. Jackson will oversee all of Raymond James Bank's operational business elements, risk management and strategic planning functions. Kackson joins Raymond James Bank after senior …

    Raymond James Bank has hired Grace Jackson to serve as executive vice president and chief operating officer. [Company handout]