Mobile Meets Social for a Truly Powerful and Complete Device
Strategy Around the Globe
BRIDGEWATER, N.J., , 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
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
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
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, .
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:
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
"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
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.
Source: Synchronoss Technologies, Inc.
Synchronoss Technologies, Inc.
Stacie Hiras, 908-547-1260
Tim Dolan, 617-956-6727
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