BICS to acquire TeleSign for USD 230 million

News General Global 25 APR 2017
BICS to acquire TeleSign for USD 230 million
BICS, the wholesale arm of Belgian operator Proximus, announced an agreement to acquire US-based TeleSign for USD 230 million. The takeover gives BICS a new growth area beyond network services, providing authentication and mobile identity services to internet service providers. 

The deal is expected to help diversify the customer base and offer cross-selling opportunities as well as strengthen geographic coverage of the company, particularly growing its position in the Americas. BICS said the merger will create a new end-to-end Communications Platform-as-a-Service offering. 

TeleSign will continue to operate independently as a wholly-owned subsidiary of BICS with the brand name TeleSign, under the continued leadership of CEO Aled Miles. Daniel Kurgan, CEO of BICS, will become the chairman of TeleSign.  

BICS will pay an upfront cash consideration of USD 230 million (on a cash- and debt-free basis) as well as a variable performance-based earn-out consideration. Closing of the transaction is subject to regulatory conditions which are expected to be fulfilled in the third quarter. 

Categories:

General

Companies:

Proximus,  BICS,  TeleSign

Regions:

Global

Tags:

Network Access, Security, Network operations services, Wholesale, M&A buyouts & divestments

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