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Synchronoss (SNCR +2.7%) trades higher following its $55.5M purchase of RIM's NewBay unit, which...

Synchronoss (SNCR +2.7%) trades higher following its $55.5M purchase of RIM's NewBay unit, which provides private-label content tools and storage services for mobile carriers. JPMorgan (Overweight) thinks NewBay's assets will complement Synchronoss' ConvergenceNow mobile activation/provisioning platform, and likes the fact the purchase expands Synchronoss' international customer base - Synchronoss is currently very dependent on AT&T and Verizon.
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