Early this morning, we announced that Synchronoss has signed a definitive agreement to acquire FusionOne, a leading provider in mobile content synchronization. The transaction is expected to close sometime in the 3rd quarter of 2010.
FusionOne, is the leading provider of mobile data backup, synchronization, and handset transfer for tier one handset manufacturers and communication service providers.
There are several reasons which we at Synchronoss are excited about this acquisition:
- FusionOne’s acquisition, will bolster our ConvergenceNow Plus strategy. This growth initiative was launched at the end of last year and provides leading smartphone and emerging device providers with the ability to monetize the connected device enablement process.
- Also, FusionOne’s communication service provider customers complement those that we support today. Combine this with our ConvergenceNow Plus offers targeting new OEM’s, and it’s easy to see how this very much helps us diversify our revenues with multiple new customers and lands us in very strategic market as a clear dominant technology provider.
- By adding this technology stack to our existing platforms, we can improve our overall value to our customers, by adding Intellectual Property to our existing software assets.
- And finally, given our synergies between our two companies, we can deliver more value at better costs to our customers, resulting in stronger financial characteristics for our shareholders.
It’s a brave new world for the connected devices space and we are ready for it! We hope you are too.
Stephen Waldis
Chairman, President and CEO
Synchronoss Technologies Inc.
NASDAQ: SNCR
