Synchronoss Technologies, Inc. SNCR, the mobile innovation company
that provides activation and mobile content management solutions for connected
devices, today announced that it has acquired NewBay, a wholly owned
subsidiary of Research in Motion Limited RIMM. NewBay is a leader in cloud
services, enabling mobile operators and service providers to deliver content
experiences across connected devices such as smartphones, tablets, PC's and
TV's. 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 Research in Motion Limited, and there was no assumption of cash or debt.
The transaction closed at the end of the fourth quarter of 2012.
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