Syniverse Holdings Inc - Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2008 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * GTCR GOLDER RAUNER LLC	2. Issuer Name and Ticker or Trading Symbol SYNIVERSE HOLDINGS INC [ SVR ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                      __ X __ 10% Owner _____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle) C/O GTCR GOLDER RAUNER, LLC, SEARS TOWER #6100	3. Date of Earliest Transaction (MM/DD/YYYY) 3/7/2008
(Street) CHICAGO, IL 60606-6402 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _ X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.001 per share	3/7/2008		S (1)		7	D	$16.66	1131	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		19	D	$16.65	1112	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		10	D	$16.63	1102	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		3	D	$16.62	1099	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		6	D	$16.61	1093	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		11	D	$16.60	1082	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		5	D	$16.59	1077	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		14	D	$16.58	1063	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		13	D	$16.57	1050	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		16	D	$16.56	1034	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		8	D	$16.55	1026	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		26	D	$16.54	1000	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		19	D	$16.53	981	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		14	D	$16.52	967	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		13	D	$16.51	954	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		63	D	$16.50	891	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		1	D	$16.49	890	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		1	D	$16.48	889	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		12	D	$16.47	877	D
Common Stock, par value $0.001 per share	3/7/2008		S (1)		2	D	$16.46	875	D
Common Stock, par value $0.001 per share								15919153	I	See footnotes   (2) (3)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:
( 1)	Shares were received by GTCR Golder Rauner, L.L.C. ("GTCR") on February 26, 2008 as a result of a pro rata distribution from GTCR Co-Invest, L.P. ("Co-Invest"). This transaction was exempt from Section 16 pursuant to Rule 16a-13.
( 2)	Reflects 15,919,153 shares beneficially owned by GTCR Partners VII, L.P. ("GTCR Partners VII"), Co-Invest and GTCR Partners VI, L.P. ("GTCR Partners VI") by virtue of GTCR being the general partner of GTCR Partners VII, Co-Invest and GTCR Partners VI. This aggregate share amount includes shares held directly by GTCR Fund VII, L.P. ("Fund VII"), GTCR Fund VII/A, L.P. ("Fund VII/A") and GTCR Capital Partners, L.P. ("Capital Partners"), by virtue of (i) GTCR Partners VII being the general partner of Fund VII and Fund VII/A, (ii) GTCR Mezzanine Partners, L.P. ("Mezzanine Partners") being the general partner of Capital Partners and (iii) GTCR Partners VI being the general partner of Mezzanine Partners.
( 3)	As such, GTCR may be deemed to be the beneficial owner of such shares. GTCR expressly disclaims beneficial ownership of such shares except to the extent of its pecuniary interest therein. The filing of this form shall not be deemed an admission that GTCR is, for Section 16 purposes or otherwise, the beneficial owner of such shares.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
GTCR GOLDER RAUNER LLC C/O GTCR GOLDER RAUNER, LLC SEARS TOWER #6100 CHICAGO, IL 60606-6402		X

Signatures
/s/ Jody S. Gale under a Power of Attorney		3/11/2008
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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