Acquisition further solidifies Synchronoss as the worldwide market
leader in providing Personal Cloud solutions to mobile operators
BRIDGEWATER, N.J--(BUSINESS WIRE)--Jul. 14, 2014--
Synchronoss
Technologies, Inc. (NASDAQ:SNCR), the leader in mobile cloud
innovation and software-based activation for mobile carriers around the
world, today announced its acquisition of Voxmobili SA, a wholly owned
subsidiary of OnMobile Global Ltd. Voxmobili provides address book
personal cloud solutions to many of the world’s leading mobile
operators. Voxmobili’s customers include AT&T, Airtel, Everything
Everywhere, France Telecom, Orange, T-Mobile, and Vodafone. In
consideration for the acquisition, Synchronoss paid approximately $26
million USD in cash to OnMobile Global Ltd.
This strategic acquisition will enable Synchronoss to bolster its
position as the leading provider of personal cloud solutions to the
world’s largest mobile operators. Upon completion of the acquisition and
integration of the technology, more than 30 mobile operators worldwide
will be using Synchronoss platforms. This customer list includes the
three largest carriers in both North America and Europe, the leading
carriers in Latin America and several of the largest carriers in Asia
Pacific. The company’s combined addressable market will exceed 3 billion
subscribers worldwide.
"The network address book has proven to be one of the most valued data
classes for mobile subscribers, and is central to our Synchronoss
Personal Cloud™ offering,” said Stephen Waldis, founder, chairman and
chief executive officer, Synchronoss. “As mobile operators around the
world accelerate their personal cloud service rollouts – and subscriber
adoption continues to rise – we believe Synchronoss is well positioned
for long term growth.”
The Synchronoss Personal Cloud™ enables mobile telecommunications
operators to offer customers a branded mobile cloud solution that
delivers a world-class customer experience, new revenue opportunities
and drives bottom line growth by reducing churn. The network address
book is a core element of the Synchronoss personal cloud™ that delivers
a cross-platform, seamless and native user experience.
Synchronoss expects the acquisition will be neutral to slightly
accretive, on a non-GAAP basis, to its full year 2014 financial results.
The company will provide details on its second quarter financial
results, as well as guidance for the third quarter and full year 2014,
on its regularly scheduled earnings call. Non-GAAP results exclude
stock-based compensation expense, amortization of intangibles associated
with acquisitions, non-recurring professional fees associated with
closing acquisitions and the purchase accounting reduction to deferred
revenue associated with acquired companies.
About Synchronoss Technologies, Inc.
Synchronoss Technologies (NASDAQ:SNCR) is the leader in mobile cloud
innovation and software-based activation for mobile carriers around the
world The company’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. For more information visit us at: www.synchronoss.com.
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," “aims ” "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
December 31, 2013 and other documents filed with the U.S. Securities and
Exchange Commission. Actual results may differ materially from these
expectations due to changes in global political, economic, business,
competitive, market and regulatory factors. Synchronoss does not
undertake any obligation to update any forward-looking statements
contained in this document as a result of new information, future events
or otherwise.
The Synchronoss logo, Synchronoss, and Synchronoss Personal Cloud are
trademarks of Synchronoss Technologies, Inc. All other trademarks are
property of their respective owners
Source: Synchronoss Technologies, Inc
Synchronoss Technologies, Inc.
Media:
Stacie Hiras, +1
908-674-0758
Stacie.hiras@synchronoss.com
or
Investor:
Brian
Denyeau, +1 646-277-1251
investor@synchronoss.com