Paris, the 11 january 2012
Synchronoss is world market leader in transaction
management solutions, access to cloud services and mobility
management for connected devices.
"Our platform enables devices to connect, sync and activate
an expanding array of services from any mobile device. The
acquisition of Miyowa expands our existing platform by
adding powerful social networking connection capabilities.
This makes our platform an even more powerful social
address book as it is enhanced with the addition of the
Miyowa product suite. We will therefore be able to deliver
a unified and easy to use social networking experience for
our customers," comments Stephen G. Waldis, Chairman and
Chief Executive Officer of Synchronoss.
Headquartered in Marseille, France, Miyowa designs mobile
applications based on connecting nomadic communities. The
company, which has been working with Crédit Agricole
Private Equity since 2008, has achieved very robust sales
growth while also securing positive net margins. It
currently has 72 employees.
Miyowa's clients include Orange, HTC, Samsung and ZTE. The
company has formed partnerships with the world's best known
social networks and messaging providers, including
Facebook, Twitter, Windows Live, Yahoo!, Gtalk and AIM,
allowing it to use their APIs.
"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. The combining
of Miyowa's social networking connectivity with
Synchronoss's platform will enable both companies to
capitalise on a number of the most powerful growth drivers
in the technology industry - social, mobile and the cloud,"
states Pascal Lorne, Chairman and Chief Executive Officer
and co-founder of Miyowa.
The purchase price of the acquisition is $45.5 million in
cash. In addition, Synchronoss may pay up to an additional
$13.5 million based on Miyowa's business achieving certain
performance targets over the next four quarters.
Michel de Lempdes, Investment Director at Crédit Agricole
Private Equity, adds: "This strategic joining of forces
constitutes a major opportunity for Miyowa. This is the
result of four years' work with Miyowa in its product
development and international expansion, illustrating first
and foremost that growth and profitability are necessary
and essential to any major acquisition."
"As an early investor in Miyowa, and having contributed to
the company's strategic decisions and international
expansion, we welcome the merger with Synchronoss. This
marks the start of a new era, and a wider roll-out of
Miyowa's solutions," adds Pierre Taillardat, Chairman of
Sophia Euro Lab.
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