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Synchronoss Acquires RIM Subsidiary NewBay For $55.5 Million

[Techtaffy Newsdesk]

Mobile software and content management solutions company Synchronoss Technologies has acquired cloud services company NewBay, a wholly owned subsidiary of Research in Motion (RIM), for $55.5 million in cash. The transaction closed at the end of the fourth quarter of 2012.

Synchronoss’ mobile content cloud platform will be used to leverage capabilities developed by NewBay, including those related to illicit content protection, legal intercept, copyright, antivirus and transcoding among others.

NewBay enables mobile operators and service providers to deliver content experiences across connected devices such as smartphones, tablets, PC’s and TV’s. The company 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.

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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