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Since its IPO last June, Synchronoss Technologies (NASDAQ:SNCR) posted a solid 248% return. Its initial offer price of $8 is currently hovering in the $27 range. This year-over-year performance ranks the company as the top software IPO of 2006 according to IPOHome.com.

If you are unfamiliar with Synchronoss, take a closer look. The company’s ConvergenceNow software platform allows telecom, cable and wireless providers to automate back-end processes associated with customer activation and service provisioning. This on-demand platform is especially useful in linking disparate systems required to deliver bundled services such as triple-plays.

Synchronoss customers include Time Warner Cable (NYSE:TWC), Comcast (NASDAQ:CMCSA), Vonage (NYSE:VG), Level 3 (NYSE:LVLT) and AT&T (NYSE:T), which will be rolling out the Apple (NASDAQ:AAPL) iPhone later this month. The demand for converged services provides a strong outlook for continued growth as providers aim to improve average revenue per user [ARPU] and reduce churn – two critical industry metrics. Synchronoss helps address these needs while simultaneously delivering a better customer experience.

CEO Steve Waldis and his executive team have done a commendable job managing the company’s growth opportunities thus far. In its most recent 1Q2007 earnings call, Synchronoss exceeded expectations. For the second time in as many quarters, the company increased its revenue and EPS guidance for 2007. According to Synchronoss, revenue and non-GAAP EPS are now expected at $108-112 million and $0.58-0.62, versus the previous guidance of $101-103 million and $0.48-0.52.

Looking ahead, Synchronoss is well-positioned in the market. The upcoming launch of the Apple iPhone, continued roll-out of Time Warner Cable’s joint-venture with Sprint in delivering bundled services, and the demand for converged solutions are just a few of the key drivers that can throttle growth for this emerging company.

SNCR 1-yr chart

SNCR

Disclosure: none

Source: Synchronoss Technologies Ranked Top Software IPO: Time for a Closer Look