Synchronoss Technologies, Inc. Announces Addition of SmartMobility(TM) Product to ConvergenceNow(R) Plus+(TM)
BRIDGEWATER, N.J., May 03, 2011 (BUSINESS WIRE) -- Synchronoss Technologies, Inc. (NASDAQ: SNCR), the world's leading provider of transaction management, cloud enablement and connectivity services for connected devices, today announced that it has enhanced its ConvergenceNow(R)Plus+(TM) platform with the addition of the SmartMobility(TM) product.
The SmartMobility product will drive faster and more efficient device connectivity from the cloud. As a result, we believe that SmartMobility will revolutionize device activation, connectivity and management for connected devices across networks. Synchronoss also announced the acquisition of privately held Sapience Knowledge Systems, which brings significant domain expertise and will help to accelerate Synchronoss' time to market with its new mobility management product.
Stephen G. Waldis, President and Chief Executive Officer of Synchronoss, said, "With the introduction of SmartMobility, Synchronoss is continuing the expansion of its ConvergenceNow Plus+ platform for enabling transaction management via the cloud directly from the device itself. Estimates for connected device adoption are reaching the billions of unit levels, and these devices will increasingly be running on multiple networks. As a result, the industry needs a more integrated solution to combine activation and synch technology with smarter connectivity, in addition to moving away from standalone software that needs to be installed and tested. The integration of SmartMobility with our ConvergenceNow Plus+ platform creates a standardized way to service the industry, which benefits both enterprises and consumers by eliminating redundancies, reducing costs and streamlining faster product introductions."
Waldis added, "We are partnering with a Tier One Service Provider as well as some Original Equipment Manufacturers (OEMs) to roll out our SmartMobility product. We currently anticipate moving into production in late 2011 with additional functionality and partners being launched in 2012."
"We are very excited to be a part of the Synchronoss family," said Biju Nair, President & CEO of Sapience. "The addition of SmartMobility to Synchronoss' ConvergenceNow Plus+ platform creates a new paradigm in mobility management that cost-effectively improves time-to-market and enables new revenue streams for our customers."
Financial terms related to the Sapience transaction were not announced. Synchronoss will provide further details related to its SmartMobility product launch and the Sapience transaction, including its expected financial impact, during its first quarter 2011 financial results conference call. A separate press release announcing the company's financial results and conference call information was issued after the market close today.
About Synchronoss Technologies, Inc.
Synchronoss Technologies (NASDAQ: SNCR) is the world's leading provider of transaction management, cloud enablement and connectivity services for connected devices. The company's technology platforms ensure a simple and seamless on-demand channel for service providers and their customers. For more information visit us at:
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 December 31, 2010 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.
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SOURCE: Synchronoss Technologies, Inc.