Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Synchronoss Technologies - SNCR - Announces Acquisition of NewBay

Friday, December 28, 2012 12:50 PM
Synchronoss Technologies, Inc. (NASDAQ: SNCR), the mobile innovation company that provides activation and mobile content management solutions for connected devices, announced that it has acquired NewBay, a wholly owned subsidiary of Research in Motion Limited. NewBay is a leader in cloud services, enabling mobile operators and service providers to deliver content experiences across connected devices such as smartphones, tablets, PC’s and TV’s. NewBay’s cloud services are delivered to millions of user and stores billions of media files for live operator services around the world. In consideration for the acquisition, Synchronoss paid $55.5 million in cash to Research in Motion Limited, and there was no assumption of cash or debt. The transaction closed at the end of the fourth quarter of 2012. "By adding NewBay's technology assets and millions of subscribers, this transaction further establishes Synchronoss as the clear leader in providing cloud based mobile content services for mobile operators around the world. By combining our strengths, Synchronoss will deliver the most comprehensive, scalable and secure cloud platform, and we will significantly expand our early market share leadership position,” said Stephen G. Waldis, Chief Executive Officer of Synchronoss. Waldis added, “We are excited to bolster our international presence through the acquisition of NewBay, including a major European mobile operator in the early stages of a significant planned expansion. Additionally, we welcome other international customers that will be new to Synchronoss. We believe that the combination of NewBay and Synchronoss will further ensure the success of the significant cloud services launch being prepared at Verizon Wireless, which remains on schedule.” NewBay provides an open, white label software platform that powers cloud-based services for storing, sharing, accessing and organizing digital content across any Internet connected device. The company’s technology platform empowers customers to deliver user content services such as social networking, digital vault, photo and video albums, network address book, notification and converged messaging services. Synchronoss’ mobile content cloud platform will be able to leverage many capabilities developed by NewBay, including those related to illicit content protection, legal intercept, copyright, antivirus and transcoding among others. In addition, joint customers will benefit from Synchronoss’ proven track record of taking best-of-breed technologies and scaling them to the highest levels demanded by Tier 1 carriers in order to deliver a world class customer experience. About Synchronoss Technologies - SNCR Synchronoss Technologies (SNCR) is the mobile innovation company that provides software-based activation and mobile content management solutions for connected devices across the globe. SNCR’s proven and scalable technology solutions allow customers to connect, synchronize and activate connected devices and services that empower enterprises and consumers to live in a connected world.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

Facebook gets U.S. antitrust approval to buy OculusFacebook gets U.S. antitrust approval to buy Oculus
WASHINGTON (Reuters) - Social network giant Facebook Inc has won U.S. antitrust approval to buy Oculus VR Inc, a two-year-old maker of virtual reality goggles, the Federal Trade Commission said on Wed...
BlackRock cuts stake in Italian lender Monte PaschiBlackRock cuts stake in Italian lender Monte Paschi
MILAN (Reuters) - Asset manager BlackRock <BLK.N> has cut its stake in Monte dei Paschi di Siena <BMPS.MI> less than a month after becoming the Italian bank`s single biggest shareholder, r...
TD Ameritrade 2nd quarter profit up 35 pct on net new assetsTD Ameritrade 2nd quarter profit up 35 pct on net new assets
NEW YORK (Reuters) - TD Ameritrade Holding Corp <AMTD.N>, the biggest U.S. discount broker, said profit in its fiscal second quarter jumped 34.7 percent to $194 million on record revenue drive...
U.S. new home sales dive to eight-month low in MarchU.S. new home sales dive to eight-month low in March
WASHINGTON (Reuters) - Sales of new U.S. single-family homes tumbled to their lowest level in eight months in March, dealing a setback to the housing market recovery. The Commerce Department said ...
U.S. factory activity expands in April, pace stallsU.S. factory activity expands in April, pace stalls
NEW YORK (Reuters) - The U.S. manufacturing sector expanded in April though the rate of growth was slightly lower than expected as inventories fell, but factory output growth hit its fastest pace in t...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.