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Synchronoss Technologies, Inc.
SNCR, the leading innovator of cloud
solutions and software-based activation for mobile carriers, enterprises,
retailers and OEMs worldwide, today announced that it has formed a new
venture to develop advanced mobile solutions leveraging proprietary secure
enterprise mobility technology contributed by The Goldman Sachs Group, Inc.
GS, a leading investment bank. The venture will focus on addressing
the challenges associated with enterprise mobility applications. This
venture will serve as an important component of Synchronoss' newly created
Enterprise Business Unit ("EBU").
In the digital business era, enterprises are faced with the challenge of
optimizing productivity and innovation for the customer and user experience,
while also providing the highest level of mobile security and compliance.
The financial services, healthcare, and life sciences industries in
particular face unique considerations regarding , information privacy and
operational risk. They must balance the demand for increased mobile access
and capabilities with the need to protect information assets for employees,
partners and customers.
"Providing our clients and employees with secure access to data and
applications, any time, any place, on the device of their choosing, is the
basis of our mobile strategy," said Don Duet, global co-head of the
Technology Division at Goldman Sachs. "We've worked hard to ensure that the
container in which our applications and data reside is highly secure. At the
same time, we believe in delivering well designed applications that are
intuitive and deeply integrated to the enterprise. Lagoon and Orbit have
created significant value and efficiency at our organization, and we are
excited that Synchronoss intends to extend this solution to other enterprise
users."
Addressing a Significant Market Need and Opportunity - Mobile Security
As a leading global investment bank and recognized innovation leader in the
financial services industry, Goldman Sachs has a reputation for embracing
and deploying new technology solutions to drive its business. The company
recognized new trends in how its employees work and demand for more remote
connectivity and flexibility to connect to the firm on multiple mobile
devices. In response, Goldman Sachs developers built Lagoon, a secure Mobile
Application Management (MAM) development framework to help facilitate BYOD
application delivery for its enterprise users. Goldman Sachs developers also
built the Orbit Suite of applications on top of that framework, including
productivity tools and a secure document management solution. The framework
and applications were developed in a highly secure container and designed to
satisfy compliance requirements. These applications have been broadly
adopted and used across the firm globally.
Goldman Sachs engineers' primary objectives when developing Lagoon and Orbit
was to establish a control framework in order to store and transmit data in
a highly secure container environment. It features data breach detection and
enterprise policy controls every step of the way.
The design principle for Lagoon and Orbit is to protect sensitive data in
the enterprise while enabling mobility, flexibility and collaboration.
The new venture will leverage the enterprise mobility IP developed by
Goldman Sachs and Synchronoss' enterprise cloud solution, Synchronoss
WorkSpace(TM). WorkSpace is a device and operating system agnostic mobility
content management solution that integrates critical features within a
single platform and ensures employees can be free to sync, share and
collaborate on the go. In addition, Synchronoss will provide hosting
capabilities at scale for the offering as required by individual clients.
Goldman Sachs will continue to leverage Lagoon and Orbit within its
enterprise as a client of Synchronoss.
"While some companies have addressed the security of mobile devices at a
basic data-loss-prevention level, the biggest challenge facing enterprises
is enabling individuals to have a more productive mobile experience at a
lower level of risk," said Dave Schuette, Executive Vice President and
President of Synchronoss' newly created Enterprise Business Unit.
"Synchronoss, building off of the technology developed by Goldman Sachs, is
extending deeper into the enterprise to bridge this gap and solve the
inherent complexity of mobile security by providing a comprehensive mobile
framework."
"We are extremely excited to leverage the Goldman Sachs contribution as we
expand our value proposition and extend into a very large and complementary
market opportunity. We believe we have a winning strategy for success based
on partnering with clear industry leaders, focusing on business value and
industry expertise, and delivering comprehensive advanced mobility
solutions," said Stephen Waldis, Founder, Chairman and Chief Executive
Officer of Synchronoss.
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