Synchronoss acquires FusionOne for $40 million

On-demand transaction management software platforms provider Synchronoss Technologies will acquire privately held mobile content transfer and synchronization technology firm FusionOne for approximately $40 million, a deal consisting of $32 million in cash and $8 million in Synchronoss stock. Synchronoss may also pay as much as additional $35 million in cash and stock if FusionOne achieves certain performance targets through 2011.

FusionOne supplies mobile transfer and synchronization tools enabling consumers to retain their content and personal data as they upgrade to new devices--services including Handset Transfer Solution and Network Address Book are available from operator partners like Verizon Wireless, AT&T and Cellular South, with support extending across more than 600 handset models. The firm's MightyBackup data restoration solution was named one of 2008's Top Mobile Applications by FierceMobileContent. FusionOne also brings with it over 40 issued and pending patents related to mobile content transfer and synchronization services.

Synchronoss said the FusionOne purchase will accelerate its overall connected devices growth strategy and boost its value proposition to both operators and OEMs. The company forecasts FusionOne will contribute approximately $8 million to $10 million to its non-GAAP revenue in the second half of 2010. The transaction is expected to close later this month.

For more on the Synchronoss/FusionOne deal:
- read this release

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