Synchronoss acquires NewBay for $55.5M
Mobile services company Synchronoss Technologies recently bought NewBay from Research In Motion for $55.5 million to expand its cloud-based services.
NewBay is headquartered in Ireland with U.S. offices in Seattle. Its cloud-based services allow customers to store, share and deliver content like photo albums, social networking and other data through smartphones, tablets and other electronic devices.
The deal provides Synchronoss access to NewBay's European customers, which include Vodafone Group, Orange and Swisscom. Its U.S. customers include AT&T, T-Mobile, Verizon and U.S. Cellular. NewBay also works with LG Electronics and Telstra in Asia.
Synchronoss expects the acquisition will be neutral to slightly accretive, on an adjusted basis, to its 2013 fiscal year results. The company said it would provide more details in February when it reports fourth-quarter and full-year financial results.