SYNCHRONOSS FINALISES AGREEMENT WITH IQMETRIX

KUALA LUMPUR, May 12 (Bernama) -- Synchronoss Technologies Inc (Synchronoss or the Company), a global leader and innovator in cloud, messaging and digital products and platforms, announced the successful completion of the sale of its Digital Experience Platform (DXP) and Activation Solutions (Activation) to iQmetrix.

According to a statement, 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 President, and Chief Executive Officer of Synchronoss, Jeff Miller.

“Closing this deal is favourable 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.”

Meanwhile, President and Chief Executive Officer of iQmetrix, Ryan Volberg said: “As a trusted provider of intelligent retail management software, iQmetrix is the natural acquirer of choice for the Digital Experience Platform and Activation Solutions.”

“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 worldwide 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.

More details at www.synchronoss.com.

-- BERNAMA