Synchronoss to divest Digital Experience Platform, Activation Solutions for $14M
Mar. 08, 2022 4:08 PM ETSNCRBy: Jessica Kuruthukulangara, SA News Editor
- Synchronoss Technologies (NASDAQ:SNCR) will sell its Digital Experience Platform (DXP) and its Activation Solutions to iQmetrix, a telecom retail management software provider.
- The transaction value is ~$14M and is expected to close in Q2 of 2022.
- Over the coming months, SNCR will work with iQmetrix to ensure a smooth transition of support for existing customers.
- The proposed divestiture enables SNCR to better focus on high-growth product lines within its cloud portfolio and strengthens its balance sheet.
- DXP and Activation enable telecom operators and retailers around the globe to create, orchestrate and manage digital experiences across all channels.