Synchronoss buys Miyowa, adding social networking to its mobility platform for connected devices
Synchronoss Technologies, Inc has acquired privately-held Miyowa, Inc, a social network and messaging software provider for mobile devices.
Bridgewater. New Jersey, USA. January 6, 2012 – Synchronoss Technologies, Inc. (NASDAQ: SNCR), a provider of transaction management, cloud enablement and mobility management for connected devices, has acquired privately-held Miyowa, Inc., a social network and messaging software provider for mobile devices. Synchronoss will add Miyowa’s capabilities and technology to its existing mobility platform for connected devices.
Stephen G Waldis (pictured), chairman and chief executive officer of Synchronoss, said: “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. 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 (original equipment manufacturer) 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 APIs (Application Programme Interfaces). 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 centre 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, CEO, 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 capitalise 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 US$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.