Synchronoss Technologies says its acquisition of France-based Miyowa Inc. will add Miyowa's social-networking and messaging software to its existing mobility platform for connected devices. The purchase is setting Synchronoss back about $45.5 million.
“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."
Miyowa’s customers include telco giant 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! and more. Synchronoss says the combined technology stacks will allow it to enhance its cloud strategy across multiple devices and operating platforms. By unifying all elements of social media at the device, Synchronoss wants to put service providers at the center of the connected-device experience.
Synchronoss may pay up to an additional $13.5 million in cash based on Miyowa’s business achieving certain performance targets over the next year. The company expects the transaction to be at least neutral to its non-GAAP earnings per share for 2012.
Synchronoss does transaction management, cloud enablement and mobility management for connected devices.
