Synchronoss Finalizes Agreement with iQmetrix to Divest Digital Experience Platform and Activation Solutions
May 11 2022 - 4:25PM
Synchronoss Technologies, Inc.
(“Synchronoss” or the “Company”) (Nasdaq: SNCR), a
global leader and innovator in cloud, messaging and digital
products and platforms, today announced the successful completion
of the sale of its Digital Experience Platform (“DXP”) and
Activation Solutions (“Activation”) to iQmetrix, a leading provider
of telecom retail management software. The divestiture was formally
announced on March 8, 2022.
“The sale of DXP and Activation is part of our strategic plan to
create a leaner business model that focuses on our core growth
areas for the future,” said Jeff Miller, President, and Chief
Executive Officer of Synchronoss. “Closing this deal is favorable
for Synchronoss’s long-term product focus areas. It provides us
with operating flexibility to improve our capital structure and to
accelerate the development of new product offerings in our key
areas such as our cloud portfolio.”
“As a trusted provider of intelligent retail management
software, iQmetrix is the natural acquirer of choice for the
Digital Experience Platform and Activation Solutions,” said Ryan
Volberg, President and Chief Executive Officer of iQmetrix. “We’re
very excited as this supports our plans to be the number one
enabler of personal connected devices globally. In such a
relentlessly changing industry, this is the next big step of many
that we’re excited to take to help us create great experiences in
the telecom space.”
The DXP and Activation offerings enable telecom operators and
retailers around the globe to create, orchestrate and manage
digital experiences across all channels. Following the sale, the
Synchronoss digital business portfolio includes its Financial
Analytics and spatialSUITE products as well as the iNow
Platform.
About SynchronossSynchronoss Technologies
(Nasdaq: SNCR) builds software that empowers companies around the
world to connect with their subscribers in trusted and meaningful
ways. The company’s collection of products helps streamline
networks, simplify onboarding, and engage subscribers to unleash
new revenue streams, reduce costs and increase speed to market.
Hundreds of millions of subscribers trust Synchronoss products to
stay in sync with the people, services, and content they love.
That’s why more than 1,500 talented Synchronoss employees worldwide
strive each day to reimagine a world in sync. Learn more
at www.synchronoss.com.
Media Relations Contact:Domenick
CileaSpringboarddcilea@springboardpr.com
Investor Relations Contact:Matt Glover / Tom
ColtonGateway Group, Inc.SNCR@gatewayir.com
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