Syniverse Holdings Inc., the communications-equipment company, had eight potential buyers before Carlyle Group agreed last month to take the company private for $31 a share, or $2.6 billion.
According to a regulatory filing, in August, Syniverse’s financial adviser, Deutsche Bank AG, presented the board of directors with six financial buyers, including Carlyle, which had expressed interest in acquiring the company. Two other companies in the technology industry also expressed interest.
The ranks of interested parties thinned out over the following months as the offers for the company rose from $21.53 a share to more than $30. In the final days, Carlyle and another technology company, referred to as Company B in the filing, were bidding against each other.
The telecommunications industry, which was hurt by lower spending by carriers and businesses amid a global recession last year, is recovering amid demand for mobile data on devices like Apple Inc.’s iPad and smartphones. Last month, Carlyle also agreed to buy fiber-optic cable maker CommScope Inc. for $3.9 billion.
Company B’s final offer was $30.75 a share, though the company called Deutsche Bank the day the merger agreement with Carlyle was completed to say it might be willing to offer more. However, the company never followed up, according to the filing. Company B had said earlier in the process it might offer as much as $31.25 in cash and stock under certain circumstances.
