More Details Released on Synchronoss Purchase of Voxmobili for $26 Million
In April 2014, NJTechWeekly.com learned that Synchronoss (Bridgewater) had purchased Voxmobili (France) from OnMobile Global for $26 million in cash, gobbling up a competitor and adding the firm’s telecom carrier clients to its arsenal.
We covered the deal here. The company had been somewhat quiet about it but recently published a press release on the acquisition.
Said the Synchronoss statement, “This strategic acquisition will enable Synchronoss to bolster its position as the leading provider of personal cloud solutions to the world’s largest mobile operators. Upon completion of the acquisition and integration of the technology, more than 30 mobile operators worldwide will be using Synchronoss platforms.
“This customer list includes the three largest carriers in both North America and Europe, the leading carriers in Latin America and several of the largest carriers in Asia Pacific. The company’s combined addressable market will exceed 3 billion subscribers worldwide,” the statement continued.
Synchronoss appears to also be looking at Voxmobili’s Network Address book, over which there was litigation in the past.
Stated the press release, “ ‘The network address book has proven to be one of the most valued data classes for mobile subscribers, and is central to our Synchronoss Personal Cloud offering,’ said Stephen Waldis, founder, chairman and chief executive officer, Synchronoss. ‘As mobile operators around the world accelerate their personal cloud service rollouts — and subscriber adoption continues to rise — we believe Synchronoss is well positioned for long term growth.’ ”
Voxmobili was founded in 1999 and funded by European venture capital firms. In September 2007 it was acquired 100 percent by OnMobile Global (India), a value-added services (VAS) telecom provider, operating as a subsidiary of OnMobile.
When it was acquired by OnMobile, Voxmobili was valued at $30.7 million in cash, including earnouts, besides stock worth $4.6 million (at initial public offering issue price), according to an article on the website AnuPartha.
Before the purchase, Synchronoss had alleged infringement of patents by some synchronization products of Voxmobili and another subsidiary. The matter was before the District Court of New Jersey, an article on the website Equity Bulls said.
According to the article, per the terms of the settlement Synchronoss completely released OnMobile Global and its subsidiaries from all claims without any admission of misconduct by either party. A joint motion was filed with the court seeking dismissal of the litigation.
