DOW JONES NEWSWIRES
Synchronoss Technologies Inc. (SNCR) acquired privately held
Miyowa Inc. for about $45.5 million in cash, giving the software
provider new exposure to mobile social networking and enhancing its
cloud-technology strategy.
Miyowa, based in France, develops social networking and instant
messaging software for mobile devices. It has partnered with
Facebook Inc., Twitter and Yahoo Inc. (YHOO), among others.
The agreement includes additional payments of up to $13.5
million in cash that can be paid based on performance milestones
from Miyowa over the next four quarters.
Synchronoss said it expects the acquisition won't significantly
impact its adjusted earnings for 2012. It plans to provide
first-quarter and full-year 2012 guidance, including Miyowa's
expected financial impact, when it reports its fourth-quarter
earnings.
In November, the company reported higher earnings thanks to
growing business partnerships with large telecommunication
companies, including AT&T Inc. (T), and increased adoption of
its ConvergenceNow Plus+ platform software, which helps activate
and synchronize devices.
Shares closed Wednesday at $29.65 and were inactive premarket.
The stock is up 24% in the past three months.
--By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108;
ben.rubin@dowjones.com