Press Releases

Syniverse Completes Acquisition of WSI

TAMPA, Fla. – May 15, 2009 – Syniverse Technologies (NYSE: SVR), a leading provider of technology and business solutions for the global telecommunications industry, announced today that its acquisition of Wireless Solutions International (WSI) has been completed.

In addition to a cash payment funded from Syniverse’s existing cash balances, the company awarded 200,000 shares of common stock to WSI and five individuals – Adam Crane, Mark Daley, Dori Kemker, Robert Knight and Michelle Wilde. These five individuals, along with Martin Guilfoyle, the sole shareholder of WSI at the time of its acquisition, became employees of Syniverse, the company’s operating subsidiary, on the closing date. Each award of shares has been placed into escrow and will be disbursed in 32 months if certain employment conditions are met by the individuals listed above.

The independent members of the company’s Board of Directors approved the grant of these equity awards. This approval was given based on the employment inducement exemption provided under the corporate governance listing standards of the New York Stock Exchange (NYSE). As a result, the grants did not require approval by the company's shareholders, and this press release is being issued pursuant to applicable NYSE guidance. The independent members of the Board of Directors approved the equity awards at its meeting on March 17, 2009.

About Syniverse
Syniverse Technologies (NYSE:SVR) solutions allow more than 650 communications companies in over 140 countries to provide seamless mobile services by making it possible for disparate technologies and standards to interoperate. Syniverse's flexibility and customer focus permit its customers to quickly react to market changes and demands, enabling the delivery of everything from voice calls to sophisticated data and video services wherever and whenever subscribers need them. With more than 20 years in the industry, Syniverse is headquartered in Tampa, Florida, U.S.A., and has offices in major cities around the globe. Syniverse is ISO 9001:2000 certified and TL 9000 approved, adhering to the principles of customer focus and quality improvement practices. More information is available at www.syniverse.com.