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

|About: Synchronoss Technologies, Inc. (SNCR)|By:, SA News Editor

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.