The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Business Wire

Synchronoss Acquires Miyowa, Adding Social Networking Capabilities to its Mobility Platform for Connected Devices

<p class='bwalignc'> <i>Mobile Meets Social for a Truly Powerful and Complete Device Strategy Around the Globe</i> </p>

Thursday, January 05, 2012

Synchronoss Acquires Miyowa, Adding Social Networking Capabilities to its Mobility Platform for Connected Devices06:30 EST Thursday, January 05, 2012 BRIDGEWATER, N.J. (Business Wire) -- Synchronoss Technologies, Inc. (NASDAQ: SNCR), the world's leading provider of transaction management, cloud enablement and mobility management for connected devices, today announced that it has acquired privately-held Miyowa, Inc., the leading provider of social network and messaging software for mobile devices. Synchronoss will add Miyowa's capabilities and technology to its existing mobility platform for connected devices. “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 Stephen G. Waldis, Chairman and Chief Executive Officer of Synchronoss. “Our ConvergenceNow Plus+ platform and its Network Address Book has become an even more powerful social address book as it is enhanced with the addition of the Miyowa product suite. Our combined value proposition will truly enable mobile and social to come together, delivering a significant unified and easy to use social experience for our Tier 1 Service Providers and OEM customers.” Headquartered in Marseille, France, Miyowa provides a powerful experience for mobile social networking from the device to the cloud, instant messaging, and sharing digital media across all operating systems and the widest range of connected devices. Miyowa's customers include Tier One carrier Orange, as well as device manufacturers such as HTC, Samsung and ZTE. Additionally, the company has partnerships with the world's best known social networks and messaging providers, including Facebook, Twitter, Windows Live, Yahoo!, Gtalk and AIM, many through privately accessible API's. The combined technology stacks will enable Synchronoss to enhance its cloud strategy across multiple devices and operating platforms. By unifying all elements of social media at the device, Synchronoss puts service providers at the center of the connected device experience. “We are extremely excited to become part of the Synchronoss team. Our relationships with leading European carriers like Orange, combined with the 100 million plus devices that Synchronoss enables in North America and Europe, uniquely positions us for expansion around the globe,” said Pascal Lorne, Chief Executive Officer, Chairman and Co-Founder of Miyowa. “The addition of Miyowa's social networking connectivity with Synchronoss' industry leading ConvergenceNow Plus+ platform will deliver an unparalleled value proposition and enable our combined company to capitalize on a number of the most powerful growth drivers in the technology industry – social, mobile and the cloud.” From a financial perspective, the purchase price of the acquisition is approximately $45.5 million in cash. In addition, Synchronoss may pay up to an additional $13.5 million in cash based on Miyowa's business achieving certain performance targets over the next four quarters. The company expects the transaction to be at least neutral to its non-GAAP earnings per share for 2012. Management will provide first quarter and full year 2012 revenue and profitability guidance, including the expected financial impact of Miyowa, when it announces fourth quarter and year end 2011 financial results. 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, Synchronoss will host a conference call today, January 5, 2012, at 8:30 a.m. ET. To access this call, dial 800-299-9086 (domestic) or 617-786-2903 (international). The pass code for the call is 85803257. Additionally, a live web cast of the conference call will be available on the “Investor Relations” page on the company's web site 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, About Miyowa Leading provider of Social Networking and Messaging Aggregation Mobile Solutions, Miyowa, Inc. is committed to making it easy for Mobile Carriers and Handset Manufacturers to deploy, manage and monetize Social and Messaging solutions across the widest range of devices on the market. With its patented platform technology and end-user focused applications, Miyowa offers flexible and innovative turn-key software solutions while dramatically reducing operational costs with the best optimized data bandwidth efficiency available in the world. 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: Web: www.synchronoss.comBlog: http://blog.synchronoss.comTwitter: Forward-looking Statements 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. The Synchronoss logo, Synchronoss, ConvergenceNow, InterconnectNow, ConvergenceNow Plus+ and SmartMobility are trademarks of Synchronoss Technologies, Inc. All other trademarks are property of their respective owners. Synchronoss Technologies, Inc.Media:Stacie Hiras, 908-547-1260Stacie.hiras@synchronoss.comorInvestor:Tim Dolan,