M3-Brigade Acquisition II has set a Feb. 9 meeting date for shareholders to vote on the proposed merger with Syniverse, a provider of mobile platforms for carriers and enterprises.
The transaction implies an initial enterprise value of $2.85 billion. The deal would provide Syniverse with up to $1.165 billion in cash through a combination of equity and equity-linked capital. If approved, at closing Syniverse Technologies will list on the NYSE under SYNV.
M3-Brigade will provide up to $400 million of cash held in trust from its IPO in March. Cloud communications platform Twilio, which has a strategic partnership with Syniverse, will make an investment of up to $750 million, with a minimum of $500 million. Read more.
