Carlyle in $2.6bn mobile take-private

The firm has agreed to acquire Syniverse Technologies, a provider of mobile phone networks, and will pay a 35% premium over Syniverse’s recent average closing price. The acquisition is Carlyle’s second multi-billion tech take-private this week.

The Carlyle Group has agreed to take private mobile communications network provider Syniverse Technologies in a deal valued at $2.6 billion.

Carlyle will acquire all of the outstanding shares of Syniverse for $31 per share, representing a 35 percent premium over the company’s closing stock price as of 26 October. The investment comes from Carlyle Partners V, which closed on $13.7 billion in 2009, and includes debt provided by Barclays Capital and Credit Suisse.

The deal is expected to close in the first quarter of 2011. A Carlyle spokesperson declined to comment on the transaction.

Syniverse provides mobile roaming, messaging and network solutions to more than 800 mobile operators, cable and internet providers. The company represents the second technology take-private for Carlyle in the last few days, and provides further evidence of a recent resurgence in $1 billion-plus leveraged buyout deals.

Earlier this week Carlyle agreed to take private CommScope, a maker of infrastructure for communications networks, in a deal valued at $3.9 billion. That investment came from Carlyle Partners V and its Carlyle Europe Partners III, €5.4 billion fund. Both funds are were raised in 2007.

Evercore, Barclays and Credit Suisse acted as financial advisors to Carlyle.