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Syniverse Plans Merger with M3-Brigade Acquisition II.

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INTERNET BUSINESS NEWS-(C)1995-2021 M2 COMMUNICATIONS

Syniverse, a global technology provider of mission-critical mobile platforms for carriers and enterprises, has announced that it has entered into a definitive merger agreement with M3-Brigade Acquisition II Corp. (NYSE: MBAC), a publicly traded special purpose acquisition company, which will result in Syniverse becoming a publicly traded company, the company said.

The transaction implies an initial enterprise value for Syniverse of USD 2.85 billion, or an enterprise value-to-adjusted 2022E EBITDA multiple of approximately 12.1x, and will provide Syniverse with up to USD 1.165 billion in cash through a combination of equity and equity-linked capital. Upon closing of the transaction, the publicly traded company will be named Syniverse Technologies Corporation and its common stock will be listed on the New York Stock Exchange under ticker "SYNV."

Syniverse is a provider of unified, mission-critical platforms enabling seamless interoperability across the mobile ecosystem. Syniverse's capabilities are expected to become increasingly valuable to its mobile carrier and enterprise customers during the transition to 5G mobile networks, which will accelerate growth in devices, traffic volumes, speed and lower-latency communications. 5G networks and the messages and applications on them require seamless and ubiquitous connectivity and coordination. Syniverse is the only global provider of services to bridge these technological and operational complexities.

Syniverse intends to use the up to USD 1.165 billion...

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