A master integrator of devices (wireless handhelds, smartphones, laptops, and tablets), Pumatech (NASDAQ:PUMA) also knows how to integrate acquisitions. Over the years, the company has effectively transformed its product line by acquiring such companies as Starfish Software and Spontaneous Technology.

But its most recent acquisition, Synchrologic, might be the most beneficial. After all, Pumatech has long enjoyed a strong presence on the desktop, but Synchrologic's strength lies on the server side.

Moreover, Synchrologic just released a new version of its flagship product -- software that allows for "always there" data across WiFi, WAN, or LAN networks in a secure fashion. This has been critical for mega customers like 3M (NYSE:MMM), Pfizer (NYSE:PFE), and Microsoft (NASDAQ:MSFT).

And the Synchrologic deal is creating immediate synergies (yes, synergy does exist).

Yesterday, Pumatech revised its guidance for the second quarter (ending Jan. 31, 2004) and the third quarter. Revenues are now expected to be approximately $9.8 million to $10.2 million in the second quarter, and $12.5 million to $13.5 million in the third. This translates into year-over-year quarterly revenue growth of 68% to 75% for the second quarter, and 86% to 101% for the fiscal third quarter.

Despite the growth, the company will show a loss of $0.03 to $0.06 per share in the second quarter, and $0.01 to $0.02 per share in the third. To account for the costs of the acquisition, Pumatech must take several charges against earnings, and there are the expenses required to fight its patent litigation with Extended Systems (NASDAQ:XTND).

All the same, the workforce is becoming increasingly mobile, and it is important for companies to integrate and secure data across devices. Right now, it looks like Pumatech has a comprehensive offering and is getting customers to pay up.

Tom Taulli is the author of six books on investing, such as Investing in IPOs (Bloomberg Press), as well as a professor of finance at the USC School of Business (don't worry, he does come out of his ivory tower). You can reach him at tom@taulli.com.