Synchronoss Acquires Miyowa, Adding Social Networking Capabilities to its Mobility Platform for Connected Devices
Mobile Meets Social for a Truly Powerful and Complete Device Strategy Around the Globe
“Our ConvergenceNow® Plus+ platform enables devices to connect, sync and
activate an expanding array of services from any device. The acquisition
of Miyowa expands our existing mobility platform by adding powerful
social networking device capabilities and reinforces our strategic
vision for global cloud enablement of connected devices,” said
By unifying all elements of social media at the device,
“We are extremely excited to become part of the
From a financial perspective, the purchase price of the acquisition is
Synchronoss’ non-GAAP results exclude stock-based compensation expense, amortization of intangibles associated with acquisitions, non-recurring professional fees associated with closing acquisitions, acquisition-related earn-out compensation and consideration and the purchase accounting reduction to deferred revenue associated with acquired companies.
Conference Call Details
In conjunction with this announcement,
Following the conference call, a replay will be available at 888-286-8010 (domestic) or 617-801-6888 (international). The replay pass code is 64349701. An archived web cast of this conference call will also be available on the “Investor Relations” page of the company’s web site, www.synchronoss.com.
Leading provider of Social Networking and Messaging Aggregation Mobile
This document may include certain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include, but are not limited to, plans,
objectives, expectations and intentions and other statements contained
in this press release that are not historical facts and statements
identified by words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates," “outlook” or words of similar
meanings. These statements are based on our current beliefs or
expectations and are inherently subject to various risks and
uncertainties, including those set forth under the caption "Risk
Factors" in Synchronoss’ Annual Report on Form 10-K for the year ended