Synchronoss Buys NewBay From Research In Motion for $55.5 Million

On Thursday, mobile content management company Synchronoss Technologies (NASDAQ: SNCR  ) announced it has bought Irish cloud services company NewBay from Research In Motion (NASDAQ: BBRY  ) for $55.5 million cash.

The deal represents a loss for RIM, which bought NewBay only last year for $100 million. Synchronoss says the purchase will be "neutral to slightly accretive" for it in 2013 on a pro forma basis. On a GAAP basis, the company expects to incur a restructuring charge in Q1 2013.

According to Synchronoss, NewBay "provides an open, white label software platform that powers cloud-based services for storing, sharing, accessing and organizing digital content across any Internet connected device."

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  • Report this Comment On December 28, 2012, at 2:49 PM, Arthur1111 wrote:

    Since September:

    Apple lost 182 billion in market value.

    RIMM gained 2.9 billion

    Apple is down 27%

    RIMM is up 89%

    If you invested in RIMM, you would've been better off by 116%.

    Don't let anyone trick you with how many ipads, ipods, iwhatever apple sells. Go with RIMM, it is leading the mobile innovation and it is the best investment for 2013.

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