Synchronoss sells its digital experience platform and activation solutions to iQmetrix

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Synchronoss Technologies, Inc.

Disposal of digital assets enables greater focus on fast-growing cloud businesses

BRIDGEWATER, N.J., March 8, 2022 (GLOBE NEWSWIRE) — Synchronoss Technologies Inc. (“Synchronoss” or the “Company”) (NASDAQ: SNCR)a global leader and innovator in cloud, messaging and digital products and platforms, today announced that it has entered into a definitive agreement to sell its Digital Experience Platform (“DXP”) and activation (“Activation”) to iQmetrixa leading provider of telecommunications retail business management software.

The value of the transaction is approximately $14 million and is expected to close in the second quarter of 2022, subject to customary closing contingencies and the purchaser entering into a financing agreement. This proposed divestiture allows Synchronoss to better focus on high-growth product lines within its Cloud portfolio and strengthens the Company’s balance sheet.

DXP and Activation enable carriers and retailers around the world to create, orchestrate and manage digital experiences across all channels. Using a low-code approach, DXP ​​allows users to easily create, integrate and publish customer journeys and experiences through simple drag-and-drop configurations. Over the next few months, Synchronoss will work with iQmetrix to ensure a smooth transition of support for existing customers.

“Our mission at Synchronoss is to develop innovative software platforms that help customers manage their digital content across a range of devices,” said Jeff Miller, President and CEO of Synchronoss. “Selling the DXP and Activation assets provides a benefit to everyone involved. Customers will benefit from iQmetrix’s experience as an industry leader in retail and point-of-sale solutions, while we now have additional capacity to focus on our key growth initiatives.

“As the trusted provider of intelligent retail management software, iQmetrix is ​​the natural acquirer of choice for digital experience platform and enablement solutions,” said Ryan Volberg, President and CEO of iQmetrix. “We are very excited as this supports our plans to be the leading enabler of connected personal devices globally. In an ever-changing industry, this is the next big step of many that we’re excited to take to help us create great experiences in the telecom space. »

About Synchronos

Synchronoss Technologies (NASDAQ: SNCR) develops software that enables businesses around the world to connect with their subscribers reliably and meaningfully. The company’s product line helps streamline networks, simplify integration and incentivize subscribers to unlock new revenue streams, reduce costs and speed time to market. Hundreds of millions of subscribers trust Synchronoss products to stay in tune with the people, services and content they love. That’s why more than 1,500 talented Synchronoss employees around the world strive every day to reinvent a synchronized world. Learn more about www.synchronoss.com.

About iQmetrix
iQmetrix’s intelligent retail management software is designed to power the telecommunications industry. Our software is designed to enable telecom retailers to deliver a buy-anywhere strategy through multi-channel inventory management and digital retail solutions; make data-driven decisions using powerful reports; and unify storefronts and digital channels for a cohesive customer experience, in-store, online and everywhere in between. For 22 years, our passion has been to help major telecommunications brands grow by providing them with the best software, services and expertise that allow them to adapt and thrive. Our solutions generated $16.4 billion in sales last year and are used by 300,000 telecom retail professionals with more than 1,000 customers. iQmetrix is ​​a private software as a service (SaaS) company with offices in Canada and the United States. www.iqmetrix.com.

Contact person for media relations:
Dominique Cilee
Springboard
[email protected]

Contact with Investor Relations:
Matt Glover and Tom Colton
Gateway Group, Inc.
[email protected]

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