Synchronoss, NewBay Tie-up Boosts Cloud Offerings

— December 31, 2012

Synchronoss Technologies, Inc., a provider of mobile content management solutions for connected devices, has acquired NewBay, a Research in Motion subsidiary. NewBay provides cloud services and helps mobile operators and service providers to deliver content experiences across connected devices such as smartphones, tablets, PCs and TVs. NewBay's cloud services are delivered to millions of user and stores billions of media files for live operator services around the world.

In consideration for the acquisition, Synchronoss paid $55.5 million in cash to RIM, and there was no assumption of cash or debt. The transaction closed at the end of the fourth quarter of 2012.

"We are excited to bolster our international presence through the acquisition of NewBay, including a major European mobile operator in the early stages of a significant planned expansion," said Stephen G. Waldis, CEO of Synchronoss. "Additionally, we welcome other international customers that will be new to Synchronoss. We believe that the combination of NewBay and Synchronoss will further ensure the success of the significant cloud services launch being prepared at Verizon Wireless, which remains on schedule."

NewBay provides an open, white label software platform that powers cloud-based services for storing, sharing, accessing and organizing digital content across any Internet connected device. The company's technology platform empowers customers to deliver user content services such as social networking, digital vault, photo and video albums, network address book, notification and converged messaging services. Synchronoss' mobile content cloud platform will be able to leverage many capabilities developed by NewBay, including those related to illicit content protection, legal intercept, copyright, antivirus and transcoding among others. In addition, joint customers will benefit from Synchronoss' proven track record of taking best-of-breed technologies and scaling them to the highest levels demanded by Tier 1 carriers in order to deliver a world class customer experience.

NewBay's European customers include a group level implementation at Vodafone Group, in addition to Orange, Swisscom, T-Mobile; U.S. customers include AT&T, T-Mobile, Verizon and US Cellular; and AsiaPac customers include LG Electronics and Telstra.

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