Syniverse Technologies Acquires ITHL

Syniverse Technologies (NYSE:SVR):

   --  Syniverse acquires a leading Asia-based telecommunications
        solutions provider for up to US$45 million in cash

   --  The acquisition brings a complementary customer base, advanced
        new products and development capabilities, and in-region
        support to Syniverse

   Syniverse Technologies (NYSE:SVR), a leading provider of
mission-critical technology services to wireless telecommunications
companies worldwide, today announced that it has acquired Interactive
Technology Holdings Limited (ITHL) for up to US$45 million, including
earn-outs of up to US$7 million, payable in cash.
   Headquartered in Hong Kong, ITHL is a leading provider of
value-added services to carriers in the Asia Pacific region. It has
approximately 180 employees and nine regional offices, including
offices in Singapore, Malaysia and Taiwan. The acquisition expands
Syniverse's footprint in the Asia Pacific region and adds a
complementary customer base, new products, advanced development
capabilities and inregion customer support.
   "The acquisition of ITHL is an important step in Syniverse's
strategic plan for global expansion and product development," said
Tony Holcombe, president and CEO of Syniverse Technologies. "ITHL
provides many new customers, most of whom are GSM operators, and a
strong set of advanced products, including prepaid, messaging, video
and number portability products that complement Syniverse's existing
suite of services. Additionally, ITHL expands our presence and
provides us with additional development capabilities in the heart of
the world's most advanced wireless market."
   Raymond Cheung, CEO of ITHL, said, "The combination of Syniverse
and ITHL represents a strong strategic fit, and this allows each
company to expand sales and marketing opportunities. With
complementary product sets, ITHL is able to leverage Syniverse's scale
and global customer base. Asia is a leader in 3G products and
adoption, and ITHL has been a leader in that area of development. We
now have an opportunity to provide these products to other operators
around the world."
   The acquisition will be accounted for as a purchase transaction
and is expected to be accretive to earnings in 2006.

   About Syniverse

   Syniverse is a leading provider of mission-critical technology
services to wireless telecommunications companies worldwide. Syniverse
solutions simplify technology complexities by integrating disparate
carriers' systems and networks in order to provide seamless global
voice and data communications to wireless subscribers. Carriers depend
on Syniverse's integrated suite of services to solve their most
complex technology challenges and to facilitate the rapid deployment
of next generation wireless services. Syniverse provides services to
over 350 telecommunications carriers in more than 50 countries,
including the ten largest U.S. wireless carriers and six of the ten
largest international wireless carriers. Headquartered in Tampa, Fla.,
U.S.A., Syniverse has offices in major cities throughout North
America, The Netherlands and the United Kingdom and a global sales
force in the United Kingdom, Luxembourg, France, Italy, China, Hong
Kong, Brazil, Slovakia and India. For more information, visit
http://www.syniverse.com.

   Cautions about Forward-Looking Statements

   This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995.
These include, but are not limited to, statements regarding the
Company's plans, intentions and expectations. Such statements are
inherently subject to a variety of risks and uncertainties that could
cause actual results to differ materially from those projected. Given
these concerns, investors and analysts should not place undue reliance
on forward-looking statements.