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News ReleaseSyniverse Reports FirstQuarter 2010 ResultsIncreases Guidance on Strong Roaming,Messaging TrendsFor more information:Jim HusebySyniverse Investor Relations+1 (813) 637-5000Diane RoseSyniverse Corporate Communications+1 (813) 637-5077diane.rose@syniverse.comTAMPA, Fla. – May 4, 2010 – Syniverse Holdings, Inc. (NYSE:SVR), a leadingprovider of technology and business solutions for the global telecommunicationsindustry, today reported results for first quarter 2010.“Strength in our roaming and messaging lines of business drove solid first quarterresults for Syniverse,” said Tony Holcombe, President and CEO. “Roaming volumegrowth accelerated across all four regions of the world, and our messagingplatforms processed a record number of transactions. As a result of these positivetrends, we have increased our guidance for the year.”Syniverse cited solid results for the quarter:• Total revenue for first quarter 2010 was $149.0 million, a 36.8% increasecompared to first quarter 2009.• Net revenue, which excludes Off-Network Database Queries, was $147.9 million,a 37.3% increase compared to first quarter 2009.• Net income was $19.7 million or $0.29 per diluted share, 23.1% and 22.6%increases respectively, compared to first quarter 2009.• Adjusted EBITDA, a non-GAAP financial measure described below, was $61.5million, a 30.3% increase compared to first quarter 2009.• Cash net income, a non-GAAP financial measure described below, was $30.9million or $0.45 per diluted share, 33.8% and 32.6% increases respectivelycompared to first quarter 2009.• Net cash provided by operating activities was $18.2 million in the first quarter2010 compared to $17.0 million in the first quarter 2009.• Operating free cash flow, a non-GAAP financial measure described below, was$4.7 million in the first quarter 2010 compared to $10.2 million in the firstquarter 2009.David Hitchcock, Executive Vice President and CFO, said the integration of themessaging assets acquired last quarter continues on track.“With this acquisition, we reorganized into three primary lines of business –roaming, messaging and network – and this new structure is reflected in ourfinancial reporting beginning with this quarter.”SYNIVERSE TECHNOLOGIESWWW.SYNIVERSE.COM

Syniverse 1Q 2010 - Page 2Please refer to the information set forth below under the headings “Non-GAAPMeasures” and “Reconciliation of Non-GAAP Measures to GAAP” for an explanation ofnon-GAAP financial measures as well as a reconciliation of such non-GAAP financialmeasures to GAAP financial measures.First Quarter 2010 Operating Segment Review: Segment revenue andoperating income are summarized in the tables included with this press release.Roaming ServicesRoaming services revenues were $65.9 million in the quarter, an 11.0% increasecompared to first quarter 2009. Revenues were higher due primarily to increasedvolumes in our roaming clearing house; increases in UniRoam ® , a service usedfor interstandard roaming; and Signaling Solutions.Messaging ServicesMessaging services revenues were $47.4 million compared to $9.4 million in thefirst quarter 2009. The increase was driven by our messaging acquisition, whichcontributed $41.8 million of revenue in the quarter.Network ServicesNetwork services revenues, including Off-Network Database Queries of $1.1million, were $33.4 million, a 5.2% decrease from first quarter 2009. Thisdecrease is primarily due to certain customer migrations from our SS7 solutionspartially offset by increases in our IPX transport services.OutlookThe company is revising guidance and providing the following outlook for 2010:Net RevenuesNet IncomeAdjusted EBITDACash Net IncomeOperating Free Cash Flow$605 – 625 million$75.0 – 83.5 million$249 – 260 million$124 – 131 millionIn excess of $110 millionExpected Adjusted EBITDA and cash net income have been adjusted to excludethe expected one-time costs in 2010 related to the integration of the messagingbusiness.Non-GAAP MeasuresSyniverse’s Adjusted EBITDA is determined by adding the following items tonet income: interest expense, net, provision for income taxes, depreciation andSYNIVERSE TECHNOLOGIESWWW.SYNIVERSE.COM

Syniverse 1Q 2010 - Page 3amortization, non-cash stock compensation and acquisition-related expensesincluding transition and integration costs.Syniverse’s cash net income is calculated by (i) adding the following items to netincome: provision for income taxes, non-cash stock compensation, acquisitionrelatedexpenses including transition and integration costs and purchase accountingamortization; (ii) adjusting the resulting pre-tax sum for a provision for income taxesat an assumed long-term tax rate of 37.5%, which excludes the effect of our netoperating losses; and (iii) adding to that sum the cash benefit of our tax-deductiblegoodwill. The cash benefit is a result of the differing treatments of approximately$436 million of goodwill on our balance sheet, which primarily is the result ofacquisitions that we made from Verizon in February 2002, IOS North Americain September 2004 and VeriSign’s mobile messaging business in October 2009.Specifically, while this goodwill is not amortized for GAAP purposes, the amortizationof goodwill is, nonetheless, deductible in calculating our taxable income and, hence,reduces actual cash tax liabilities.Syniverse’s operating free cash flow is determined by subtracting capital expendituresfrom net cash provided by operating activities.A reconciliation of net income, the closest GAAP financial measure, to AdjustedEBITDA and cash net income, is presented in the financial tables below under theheading “Reconciliation of Non-GAAP Measures to GAAP.” A reconciliation of operatingfree cash flow to net cash provided by operating activities, the closest GAAPmeasure, is presented in the financial tables below under the heading “Reconciliationof Non-GAAP Measures to GAAP.”We present Adjusted EBITDA and operating free cash flow because we believe thatAdjusted EBITDA and operating free cash flow provide useful information regardingour continuing operating results. We rely on Adjusted EBITDA and operating freecash flow as primary measures to review and assess the operating performance ofour management team in connection with our executive compensation and bonusplans. We also review Adjusted EBITDA and operating free cash flow to compare ourcurrent operating results with corresponding periods and with the operating resultsof other companies in our industry. In addition, we utilize Adjusted EBITDA andoperating free cash flow as an assessment of our overall liquidity and our ability tomeet our debt service obligations.We present cash net income and the related per-share amount because we believeit provides useful information regarding our operating results in addition to our GAAPmeasures. We believe that cash net income provides our investors with valuableinsight into our profitability exclusive of certain adjustments. In addition, cash netSYNIVERSE TECHNOLOGIESWWW.SYNIVERSE.COM

Syniverse 1Q 2010 - Page 4income provides further insight into the cash impact resulting from the differenttreatments of goodwill for financial reporting and tax purposes. We rely on cash netincome as the primary measure of Syniverse’s earnings exclusive of these certainnon-cash charges.We believe that the disclosure of Adjusted EBITDA, operating free cash flow andcash net income is useful to investors as these non-GAAP measures form the basisof how our management team reviews and considers our operating results. Bydisclosing these non-GAAP measures, we believe that we create for investors agreater understanding of, and an enhanced level of transparency into, the means bywhich our management team operates our company. We also believe these measurescan assist investors in comparing our performance to that of other companies ona consistent basis without regard to certain items that do not directly affect ourongoing operating performance or cash flows.Adjusted EBITDA, operating free cash flow and cash net income have limitationsas analytical tools, and should not be relied upon or considered in isolation or asa substitute for GAAP measures, such as net income, cash flows from operatingactivities and other consolidated income or other cash flows statement dataprepared in accordance with GAAP. In addition, these non-GAAP measures maynot be comparable to other similarly titled measures of other companies. Becauseof these limitations, Adjusted EBITDA and operating free cash flow should not beconsidered as measures of discretionary cash available to us to invest in the growthof our business. Cash net income also should not be considered as a replacementfor, or a measure that should be used or analyzed in lieu of, net income. We attemptto compensate for these limitations by relying primarily upon our GAAP resultsand using Adjusted EBITDA, operating free cash flow and cash net income assupplemental information only.First Quarter 2010 Earnings CallSyniverse will host a conference call at 4:30 p.m. ET to discuss the results.To participate on this call, U.S. callers may dial toll free +1 (800) 299-7635;international callers may dial direct +1 (617) 786-2901. The passcode for this call is23364209. This event also will be webcast live over the Internet in listen-only modeat http://www.syniverse.com/investorevents.A replay of this call will be available beginning at approximately 7:30 p.m. ET on May4 and will remain available through May 18 at 11:59 p.m. ET. To access the replay,U.S. callers may dial toll free +1 (888) 286-8010; international callers may dial direct+1 (617) 801-6888. The replay passcode is 99388615.SYNIVERSE TECHNOLOGIESWWW.SYNIVERSE.COM

Syniverse 1Q 2010 - Page 5About SyniverseSyniverse Technologies (NYSE:SVR)makes mobile work for morethan 800 mobile operators, cableand Internet providers, andenterprises in over 160 countries.With unmatched expertise andmore than 20 years simplifying thecomplexities of roaming, messagingand networking, Syniverse serves asthe force at the center of the mobilecommunications universe, keepingpeople connected today and forgingnew connections for tomorrow.Nobody knows mobile like Syniverse.For more information, visit www.syniverse.com, follow Syniverseon Twitter or find Syniverse onFacebook.Cautionary Notice Regarding Forward-Looking StatementsCertain of the statements in this press release may constitute “forward-lookingstatements” for purposes of Section 27A of the Securities Act of 1933, as amended,and Section 21E of the Securities Exchange Act of 1934, as amended, and as suchmay involve known and unknown risks, uncertainties and other factors, which maycause the actual results, performance or achievements of Syniverse to be materiallydifferent from the future results, performance or achievements expressed or impliedby such forward-looking statements. Such forward-looking statements include,without limitation: statements regarding Syniverse’s position for long-term success;Syniverse’s ability to continue to manage its costs; Syniverse’s expectations of growthof its product portfolio and competitive position; Syniverse’s expectations regardingstrengthening trends in our roaming and messaging businesses; Syniverse’s ability tocontinue to report positive results in future periods and/or to continue to experienceglobal growth; Syniverse’s ability to successfully integrate its acquired businesses,realize expected synergies and accurately predict the amount of one-time costsnecessary to integrate these businesses; Syniverse’s belief of the value of Non-GAAP measures to its investors; Syniverse’s assumptions regarding its long-termeffective tax rate; and Syniverse’s guidance for 2010, as contained under the caption“Outlook,” including, without limitation, expected net revenues, net income, AdjustedEBITDA, cash net income and operating free cash flow for 2010, as well as theassumptions, estimates, and judgments applied in creating such guidance.These forward-looking statements are based upon information presently available tothe company’s management and are inherently subjective, uncertain and subject tochange, due to any number of risks and uncertainties, including, without limitation,those other risks and factors discussed in Syniverse’s Annual Report on Form 10-Kfor the year ended Dec. 31, 2009 under the captions “Cautionary Notice RegardingForward-Looking Statements” and “Risk Factors” and otherwise in Syniverse’s reportsand filings that it makes with the Securities and Exchange Commission.You should not place undue reliance on any forward-looking statements, since thosestatements speak only as of the date that they are made. Syniverse has no obligationand does not undertake to publicly update, revise or correct any of the forwardlookingstatements after the date of this press release, or after the respectivedates on which such statements otherwise are made, whether as a result of newinformation, future events, or otherwise, except as otherwise may be required bylaw.# # #SYNIVERSE TECHNOLOGIESWWW.SYNIVERSE.COM

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