Syniverse's buyout of mobile messaging company VeriSign began to pay off in the fourth quarter as sales from the newly acquired company offset declines in Syniverse's interoperability business.
Syniverse said sales related to the VeriSign purchase helped offset weakness in parts of its technology interoperability unit, particularly in the Asia Pacific region. As a result, sales in the company's largest unit rose almost 22 percent to $97.7 million.
"Our recently acquired messaging business performed well above our expectations while our roaming business improved," said Syniverse President and CEO Tony Holcombe in a statement. "Stronger volumes across these product sets enabled us to finish the year better than expected."
The company's overall revenue rose 14.3 percent to $143.9 million in the fourth quarter. Syniverse's profit rose slightly to $18.3 million.
The company expects sales to come in between $590 million and $620 million for the full year 2010, with profits between $70.5 million and $82.5 million.