Make us your home page
Instagram

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 jharrington@sptimes.com 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

Loading...
  1. McMansions, state sewage order on tap at St. Petersburg City Council

    Local Government

    ST. PETERSBURG — The City Council is set Thursday to vote on two major issues: controversial zoning changes aimed at curbing big McMansion-style homes and a consent order with the state that will require St. Petersburg to fix its ailing sewage system.

    Two big, blocky homes on the 2300 block of Dartmouth, Ave N under construction in April. Several new homes under construction.
in St. Petersburg's Historic Kenwood Neighborhood are too big, residents complain. The St. Petersburg City Council on Thursday is set to consider ordinances aimed at curbing the construction of big "McMansions." [LARA CERRI   |   Times]
  2. Tom James and wife, Mary, talk about their James Museum of Western and Wildlife Art

    Human Interest

    ST. PETERSBURG — As a child, businessman and philanthropist Tom James loved cowboy movies, an affinity that would later play out in a vast collection of Western art amassed over the years with his wife, Mary.

    Tom and Mary James at the site of the Tom and Mary James Museum of Western and Wildlife Art.
Photo courtesy of Raymond James
  3. A reliable Rick Scott ally, Pete Antonacci, named CEO of Enterprise Florida

    State Roundup

    Pete Antonacci, who last week made headlines when he advised scientists to stay in their lane rather than criticize his water agency's work on Everglades restoration, is getting a new job.

    Pete Antonacci, an attorney seen here in 2009, has served many roles for Gov. Rick Scott: general counsel, executive director of the South Florida Water Management District and now, CEO of Enterprise Florida.  [
COLIN HACKLEY | Special to the Times]
  4. Pinellas County budget on the rise thanks to high property values

    Local Government

    CLEARWATER –– After another year of growth, Pinellas County commissioners won't have to fight to pay for critical needs in the 2017-2018 budget.

    The Pinellas County Commission on Tuesday learned the first details of its $2.3 billion spending plan for next fiscal year, which includes funding for the Pinellas County Sheriff's Office. [Courtesy of Pinellas County Sheriff's Office]
  5. Tampa Bay chefs go head to head and Disney Springs gets another James Beard winner

    Food & Dining

    Epic Chef Showdown: Feeding Tampa Bay

    In a shoulder-to-shoulder format cook-off competition, chefs from Parkshore Grill and Mise En Place strove Monday night to become the Epic Chef of Tampa Bay. In this course, using ramen as a mystery box ingredient.